NIO (NYSE:NIO) Stock Price Up 3.6% – Here’s Why

Nio Inc – (NYSE:NIO)’s share price rose 3.6% during trading on Tuesday . The company traded as high as $5.33 and last traded at $5.21. Approximately 43,790,866 shares changed hands during trading, a decline of 20% from the average daily volume of 55,046,527 shares. The stock had previously closed at $5.03.

Analysts Set New Price Targets

NIO has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. HSBC cut NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Hsbc Global Res cut NIO from a “strong-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 decreased their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Macquarie cut NIO from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, seven 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 company currently has a consensus rating of “Hold” and a consensus target price of $5.03.

NIO Trading Down 0.5 %

The company has a market capitalization of $10.78 billion, a P/E ratio of -3.42 and a beta of 1.81. The business has a fifty day moving average price of $4.41 and a 200 day moving average price of $4.86. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Trading of NIO

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in NIO by 140.2% during the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock worth $502,000 after acquiring an additional 43,839 shares in the last quarter. GSA Capital Partners LLP bought a new stake in NIO during the third quarter worth about $481,000. Banque Cantonale Vaudoise raised its holdings in NIO by 112.2% during the third quarter. Banque Cantonale Vaudoise now owns 363,885 shares of the company’s stock worth $2,430,000 after acquiring an additional 192,394 shares in the last quarter. West Family Investments Inc. bought a new stake in NIO during the third quarter worth about $138,000. Finally, Avior Wealth Management LLC raised its holdings in NIO by 106.1% during the third quarter. Avior Wealth Management LLC now owns 14,588 shares of the company’s stock worth $97,000 after acquiring an additional 7,510 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

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.