NIO (NYSE:NIO) Stock Price Up 1.7% – Here’s What Happened

Nio Inc – (NYSE:NIO) shares rose 1.7% on Wednesday . The stock traded as high as $4.52 and last traded at $4.44. Approximately 18,425,814 shares were traded during mid-day 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

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

NIO Trading Up 1.0 %

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 company’s fifty day simple moving average is $4.37 and its 200-day simple moving average is $4.75. The company has a market capitalization of $9.19 billion, a P/E ratio of -2.92 and a beta of 1.68.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Trexquant Investment LP purchased a new position in NIO in the fourth quarter worth $3,305,000. Point72 Hong Kong Ltd purchased a new position in NIO in the third quarter worth $4,879,000. SG Americas Securities LLC increased its position in shares of NIO by 104.8% during the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after purchasing an additional 589,082 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its position in shares of NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after purchasing an additional 538,907 shares in the last quarter. 48.55% of the stock is currently owned by 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.