NIO (NYSE:NIO) Trading Up 2.8% – Here’s What Happened

Nio Inc – (NYSE:NIO)’s share price was up 2.8% on Friday . The company traded as high as $4.22 and last traded at $4.25. Approximately 8,078,009 shares changed hands during trading, a decline of 80% from the average daily volume of 40,244,711 shares. The stock had previously closed at $4.13.

Analyst Upgrades and Downgrades

NIO has been the subject of several research analyst reports. HSBC cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and lowered their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Daiwa America raised shares of NIO to a “strong-buy” rating in a research report 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.71.

NIO Trading Up 3.5 %

The firm’s 50 day moving average price is $4.48 and its 200-day moving average price is $4.78. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a market cap of $7.35 billion, a P/E ratio of -2.83 and a beta of 1.70.

Institutional Trading of NIO

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after purchasing an additional 3,607 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in NIO in the 3rd quarter worth about $32,000. U.S. Capital Wealth Advisors LLC purchased a new position in NIO in the 4th quarter worth about $53,000. Perigon Wealth Management LLC lifted its stake in NIO by 24.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock valued at $61,000 after acquiring an additional 2,867 shares during the period. Finally, AE Wealth Management LLC purchased a new stake in shares of NIO during the 2nd quarter valued at about $75,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

About NIO

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.