NIO (NYSE:NIO) Trading Up 3.8% – What’s Next?

Nio Inc – (NYSE:NIO) shares rose 3.8% during mid-day trading on Friday . The stock traded as high as $4.69 and last traded at $4.54. Approximately 43,196,259 shares were traded during trading, a decline of 3% from the average daily volume of 44,732,063 shares. The stock had previously closed at $4.37.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NIO. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research report 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 report on Tuesday, February 4th. Macquarie downgraded 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 report on Wednesday, November 20th. Finally, HSBC cut NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. 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 data from MarketBeat, NIO currently has a consensus rating of “Hold” and a consensus target price of $5.38.

NIO Price Performance

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 business has a 50-day moving average of $4.35 and a two-hundred day moving average of $4.75. The firm has a market cap of $9.28 billion, a P/E ratio of -2.94 and a beta of 1.68.

Hedge Funds Weigh In On NIO

A number of hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in NIO during the 3rd quarter worth about $32,000. Blue Trust Inc. increased its holdings 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 in the last quarter. Jones Financial Companies Lllp lifted its stake in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after buying an additional 4,332 shares during the period. Sava Infond d.o.o. bought a new position in shares of NIO during the 4th quarter worth approximately $44,000. Finally, Callan Family Office LLC acquired a new stake in shares of NIO during the 4th quarter worth approximately $44,000. 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.