NIO (NYSE:NIO) Stock Price Up 3.6% – Here’s Why

Nio Inc – (NYSE:NIO)’s stock price shot up 3.6% during mid-day trading on Tuesday . The stock traded as high as $5.33 and last traded at $5.21. 43,790,866 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 55,046,527 shares. The stock had previously closed at $5.03.

Analyst Ratings Changes

Several research firms have issued reports on NIO. HSBC lowered NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.03.

NIO Stock Down 0.5 %

The stock has a 50-day moving average of $4.41 and a 200-day moving average of $4.86. The firm has a market cap of $10.78 billion, a price-to-earnings ratio of -3.42 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Shufro Rose & Co. LLC bought a new position in shares of NIO in the 4th quarter valued at $65,000. Vident Advisory LLC lifted its stake in shares of NIO by 60.6% in the 4th quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock valued at $235,000 after acquiring an additional 20,349 shares during the last quarter. Vienna Asset Management LLC bought a new position in shares of NIO in the 4th quarter valued at $100,000. Laird Norton Wetherby Trust Company LLC bought a new position in shares of NIO in the 4th quarter valued at $93,000. Finally, Laird Norton Wetherby Wealth Management LLC lifted its stake in shares of NIO by 15.1% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock valued at $290,000 after acquiring an additional 8,746 shares during 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.