NIO (NYSE:NIO) Stock Price Up 3.7% – Here’s Why

Shares of Nio Inc – (NYSE:NIO) rose 3.7% during trading on Monday . The stock traded as high as $4.91 and last traded at $4.80. Approximately 27,141,350 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 40,302,086 shares. The stock had previously closed at $4.63.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NIO shares. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and cut their price objective for the company from $4.80 to $3.90 in a report on Monday, November 25th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, Daiwa America upgraded NIO to a “strong-buy” rating in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NIO has a consensus rating of “Hold” and an average price target of $5.71.

NIO Trading Up 1.1 %

The company has a 50-day moving average price of $4.71 and a 200-day moving average price of $4.80. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of -3.10 and a beta of 1.70. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NIO. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO during the 3rd quarter worth about $32,000. Caprock Group LLC purchased a new stake in NIO during the 2nd quarter valued at approximately $63,000. AE Wealth Management LLC purchased a new stake in NIO during the 2nd quarter valued at approximately $75,000. First Trust Direct Indexing L.P. purchased a new stake in NIO during the 3rd quarter valued at approximately $76,000. Finally, Apollon Wealth Management LLC purchased a new stake in NIO during the 3rd quarter valued at approximately $78,000. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Company Profile

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.