NIO (NYSE:NIO) Shares Up 4.1% – Here’s Why

Nio Inc – (NYSE:NIO)’s stock price rose 4.1% during mid-day trading on Monday . The stock traded as high as $4.55 and last traded at $4.44. Approximately 53,985,262 shares changed hands during mid-day trading, an increase of 44% from the average daily volume of 37,445,384 shares. The stock had previously closed at $4.26.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NIO. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and reduced their price target for the stock 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 lowered their price objective for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. The Goldman Sachs Group downgraded 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 report on Monday, November 25th. Finally, Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.38.

NIO Stock Up 0.6 %

The stock has a fifty day moving average of $4.37 and a 200-day moving average of $4.75. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of -2.90 and a beta of 1.68. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Institutional Trading of NIO

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC increased its position in shares of NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after acquiring an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd raised its stake in NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after purchasing an additional 538,907 shares during the period. Bridgewater Associates LP lifted its holdings in shares of NIO by 28.6% in the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company’s stock valued at $5,170,000 after purchasing an additional 263,338 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of NIO by 104.8% during the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock valued at $5,018,000 after buying an additional 589,082 shares in the last quarter. Finally, Swedbank AB raised its position in NIO by 0.8% during the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock valued at $4,657,000 after buying an additional 9,000 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.