NIO (NYSE:NIO) Shares Up 0.6% – Here’s Why

Nio Inc – (NYSE:NIO) shares were up 0.6% during trading on Friday . The company traded as high as $4.33 and last traded at $4.23. Approximately 19,515,340 shares traded hands during trading, a decline of 53% from the average daily volume of 41,174,586 shares. The stock had previously closed at $4.20.

Analyst Upgrades and Downgrades

NIO has been the topic of a number of analyst reports. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $7.00 to $4.70 in a report on Tuesday. Two analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.38.

NIO Stock Performance

The firm has a market cap of $8.84 billion, a price-to-earnings ratio of -2.80 and a beta of 1.68. The stock has a 50-day moving average of $4.42 and a 200-day moving average of $4.75. 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 large investors have recently added to or reduced their stakes in NIO. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO during the 3rd quarter worth about $32,000. Blue Trust Inc. raised its holdings in NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after acquiring an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp boosted its position in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after purchasing an additional 4,332 shares during the last quarter. Callan Family Office LLC acquired a new position in shares of NIO during the 4th quarter worth approximately $44,000. Finally, Trilogy Capital Inc. acquired a new position in NIO during the fourth quarter worth $45,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

About NIO

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.