NIO (NYSE:NIO) Trading Up 3.6% – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and cut their price target for the company from $6.60 to $4.80 in a report 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. lowered shares of 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 report on Tuesday, February 4th. Finally, Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.03.

NIO Stock Up 3.9 %

The company has a market cap of $10.91 billion, a P/E ratio of -3.45 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The business’s fifty day moving average is $4.38 and its two-hundred day moving average is $4.85.

Institutional Trading of NIO

A number of large investors have recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after acquiring an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp raised 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 worth $33,000 after buying an additional 4,332 shares in the last quarter. Callan Family Office LLC purchased a new stake in NIO during the fourth quarter worth $44,000. Sava Infond d.o.o. bought a new stake in NIO during the 4th quarter valued at $44,000. Finally, Trilogy Capital Inc. purchased a new position in shares of NIO in the 4th quarter valued at $45,000. 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.