NIO (NYSE:NIO) Trading 0.2% Higher – Here’s Why

Nio Inc – (NYSE:NIO)’s share price shot up 0.2% during trading on Monday . The company traded as high as $4.57 and last traded at $4.52. 14,051,820 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 56,802,891 shares. The stock had previously closed at $4.51.

Analyst Ratings Changes

Several analysts have recently commented on NIO shares. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Citigroup lowered their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Wolfe Research assumed coverage on NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIO has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Trading Down 4.8 %

The company has a market capitalization of $7.43 billion, a P/E ratio of -2.86 and a beta of 1.77. The business has a 50 day moving average price of $4.98 and a 200 day moving average price of $4.82. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Institutional Investors Weigh In On NIO

Hedge funds have recently bought and sold shares of the company. Ridgewood Investments LLC bought a new position in NIO during the second quarter worth about $25,000. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO in the 3rd quarter valued at approximately $32,000. Caprock Group LLC bought a new stake in NIO during the 2nd quarter worth approximately $63,000. Atomi Financial Group Inc. acquired a new stake in NIO during the 2nd quarter worth approximately $70,000. Finally, AE Wealth Management LLC bought a new position in NIO in the second quarter valued at approximately $75,000. 48.55% of the stock is currently 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.