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

Nio Inc – (NYSE:NIO)’s share price was up 1.7% during mid-day trading on Thursday . The stock traded as high as $4.19 and last traded at $4.17. Approximately 13,133,258 shares traded hands during trading, a decline of 68% from the average daily volume of 41,654,406 shares. The stock had previously closed at $4.10.

Analyst Ratings Changes

NIO has been the subject of several research analyst reports. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $4.80 to $3.90 in a research note 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. Hsbc Global Res lowered shares of NIO from a “strong-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 lowered their price objective for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.71.

NIO Price Performance

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 stock’s 50 day simple moving average is $4.51 and its 200 day simple moving average is $4.79.

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 purchased a new position in shares of NIO in the 3rd quarter worth about $32,000. AE Wealth Management LLC purchased a new position in shares of NIO in the 2nd quarter worth about $75,000. First Trust Direct Indexing L.P. purchased a new position in shares of NIO in the 3rd quarter worth about $76,000. Apollon Wealth Management LLC purchased a new position in shares of NIO in the 3rd quarter worth about $78,000. Finally, Sivia Capital Partners LLC purchased a new position in shares of NIO in the 3rd quarter worth about $92,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.