NIO (NYSE:NIO) Stock Price Up 1.7% – What’s Next?

Nio Inc – (NYSE:NIO) was up 1.7% during trading on Wednesday . The company traded as high as $4.52 and last traded at $4.44. Approximately 18,425,814 shares traded hands during trading, a decline of 57% from the average daily volume of 43,335,148 shares. The stock had previously closed at $4.36.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NIO. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and lowered their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, NIO has a consensus rating of “Hold” and a consensus target price of $5.38.

NIO Price Performance

The company has a market cap of $9.28 billion, a price-to-earnings ratio of -2.94 and a beta of 1.68. The company’s 50-day simple moving average is $4.35 and its 200-day simple moving average is $4.75. 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 Investors Weigh In On NIO

A number of large investors have recently added to or reduced their stakes in the company. Ballentine Partners LLC boosted its position in NIO by 11.5% in the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after buying an additional 2,482 shares during the last quarter. PDS Planning Inc lifted its stake in shares of NIO by 13.0% in the fourth quarter. PDS Planning Inc now owns 22,786 shares of the company’s stock worth $99,000 after acquiring an additional 2,627 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in NIO by 25.3% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company’s stock valued at $59,000 after purchasing an additional 2,712 shares during the last quarter. Franklin Resources Inc. grew its stake in NIO by 20.4% during the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock valued at $72,000 after purchasing an additional 2,788 shares in the last quarter. Finally, Perigon Wealth Management LLC grew its stake in NIO by 24.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock valued at $61,000 after purchasing an additional 2,867 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.