NIO (NYSE:NIO) Shares Up 0.4% – Here’s Why

Nio Inc – (NYSE:NIO)’s share price shot up 0.4% during mid-day trading on Tuesday . The stock traded as high as $4.30 and last traded at $4.29. 11,883,104 shares changed hands during trading, a decline of 71% from the average session volume of 41,037,113 shares. The stock had previously closed at $4.27.

Analysts Set New Price Targets

Several research firms have issued reports on NIO. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $4.80 to $3.90 in a report 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. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.71.

NIO Stock Performance

The firm has a market cap of $7.36 billion, a PE ratio of -2.94 and a beta of 1.70. The company has a 50 day simple moving average of $4.45 and a 200-day simple moving average of $4.77. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Institutional Trading of NIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after purchasing an additional 3,607 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in NIO in the 3rd quarter worth approximately $32,000. Trilogy Capital Inc. bought a new stake in NIO in the 4th quarter worth approximately $45,000. U.S. Capital Wealth Advisors LLC bought a new position in shares of NIO during the 4th quarter valued at approximately $53,000. Finally, ABC Arbitrage SA bought a new position in shares of NIO during the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors 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.