NIO (NYSE:NIO) Shares Gap Up – Here’s What Happened

Nio Inc – (NYSE:NIO) gapped up before the market opened on Tuesday . The stock had previously closed at $5.03, but opened at $5.28. NIO shares last traded at $5.14, with a volume of 22,699,635 shares.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group downgraded 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 research note on Monday, November 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.03.

NIO Price Performance

The company has a 50 day moving average of $4.38 and a 200-day moving average of $4.85. The firm has a market capitalization of $10.82 billion, a P/E ratio of -3.47 and a beta of 1.81. 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

A number of institutional investors have recently modified their holdings of the stock. PDS Planning Inc raised its holdings in shares of NIO by 13.0% during the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company’s stock worth $99,000 after buying an additional 2,627 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in NIO by 25.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company’s stock worth $59,000 after purchasing an additional 2,712 shares in the last quarter. Franklin Resources Inc. increased its holdings in NIO by 20.4% in the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock worth $72,000 after purchasing an additional 2,788 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in NIO by 24.1% in the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock worth $61,000 after purchasing an additional 2,867 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its holdings in NIO by 17.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company’s stock worth $94,000 after purchasing an additional 3,152 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.