NIO (NYSE:NIO) Trading Up 3.4% – What’s Next?

Shares of Nio Inc – (NYSE:NIO) were up 3.4% on Friday . The stock traded as high as $4.49 and last traded at $4.39. Approximately 19,763,161 shares changed hands during trading, a decline of 63% from the average daily volume of 54,104,266 shares. The stock had previously closed at $4.24.

Analyst Ratings Changes

A number of research firms recently issued reports on NIO. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and cut their target price for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, NIO presently has an average rating of “Hold” and an average target price of $5.30.

NIO Trading Up 5.1 %

The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company has a fifty day moving average price of $4.33 and a two-hundred day moving average price of $4.80. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of -2.95 and a beta of 1.81.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Shufro Rose & Co. LLC purchased a new stake in shares of NIO in the fourth quarter valued at about $65,000. Vident Advisory LLC boosted its holdings in NIO by 60.6% in the 4th quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock valued at $235,000 after purchasing an additional 20,349 shares during the last quarter. Vienna Asset Management LLC purchased a new stake in shares of NIO in the 4th quarter valued at approximately $100,000. Laird Norton Wetherby Trust Company LLC acquired a new stake in shares of NIO during the 4th quarter worth approximately $93,000. Finally, Laird Norton Wetherby Wealth Management LLC raised its position in shares of NIO by 15.1% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock valued at $290,000 after buying an additional 8,746 shares during the period. 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.