NIO (NYSE:NIO) Stock Price Up 2.1% – What’s Next?

Nio Inc – (NYSE:NIO)’s stock price traded up 2.1% during trading on Wednesday . The company traded as high as $4.14 and last traded at $4.13. 12,241,008 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 41,347,953 shares. The stock had previously closed at $4.04.

Analysts Set New Price Targets

NIO has been the topic of a number of 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 report on Monday, November 25th. JPMorgan Chase & Co. lowered 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. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.38.

NIO Stock Up 3.3 %

The stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of -2.76 and a beta of 1.68. The firm has a 50-day moving average of $4.40 and a 200 day moving average of $4.75. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its position in NIO by 10.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,043 shares of the company’s stock valued at $753,000 after purchasing an additional 17,467 shares during the last quarter. Truist Financial Corp boosted its position in shares of NIO by 32.2% during the second quarter. Truist Financial Corp now owns 25,253 shares of the company’s stock worth $105,000 after buying an additional 6,150 shares during the period. Sanctuary Advisors LLC bought a new position in NIO in the 2nd quarter worth approximately $228,000. Atomi Financial Group Inc. increased its position in NIO by 15.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock valued at $129,000 after acquiring an additional 2,588 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in NIO during the 3rd quarter valued at $92,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.