NIO (NYSE:NIO) Shares Gap Up – What’s Next?

Nio Inc – (NYSE:NIO)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $4.46, but opened at $4.75. NIO shares last traded at $4.85, with a volume of 22,359,445 shares changing hands.

Analyst Ratings Changes

NIO has been the topic of several recent research reports. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and dropped their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and cut their target price for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Finally, HSBC lowered NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, NIO presently has an average rating of “Hold” and an average target price of $5.30.

NIO Price Performance

The stock has a market cap of $10.17 billion, a price-to-earnings ratio of -3.23 and a beta of 1.81. The company has a 50 day simple moving average of $4.33 and a 200-day simple moving average of $4.81. 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

Several hedge funds have recently made changes to their positions in NIO. Toronto Dominion Bank grew its position in NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after purchasing an additional 132,237 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of NIO during the 4th quarter worth about $1,360,000. AlphaStar Capital Management LLC bought a new position in shares of NIO in the 4th quarter valued at about $537,000. FMR LLC increased its position in shares of NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in NIO during the third quarter worth about $1,327,000. 48.55% of the stock is 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.