NIO (NYSE:NIO) Shares Up 3.1% – Here’s Why

Nio Inc – (NYSE:NIO) rose 3.1% during mid-day trading on Wednesday . The stock traded as high as $4.68 and last traded at $4.62. Approximately 24,244,377 shares changed hands during trading, a decline of 57% from the average daily volume of 56,362,250 shares. The stock had previously closed at $4.48.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NIO shares. Wolfe Research assumed coverage on shares of NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Citigroup reduced their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Macquarie downgraded 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 report on Wednesday, November 20th. Finally, The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Trading Up 3.1 %

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 $7.94 billion, a price-to-earnings ratio of -3.06 and a beta of 1.77. The business has a 50-day simple moving average of $4.83 and a two-hundred day simple moving average of $4.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. boosted its position in shares of NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after acquiring an additional 4,018,659 shares during the period. FMR LLC increased its stake 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 purchasing an additional 5,296,601 shares during the last quarter. Quadrature Capital Ltd boosted its stake 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 valued at $14,756,000 after purchasing an additional 538,907 shares in the last quarter. Krane Funds Advisors LLC lifted its stake in shares of NIO by 31.7% in the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after acquiring an additional 370,556 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of NIO by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after purchasing an additional 343,910 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.