NIO (NYSE:NIO) Trading Up 1.1% - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report) shares were up 1.1% during mid-day trading on Thursday . The stock traded as high as $4.30 and last traded at $4.25. Approximately 14,334,572 shares changed hands during trading, a decline of 65% from the average daily volume of 41,372,059 shares. The stock had previously closed at $4.20.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NIO shares. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. The Goldman Sachs Group downgraded shares of NIO from a "neutral" rating to a "sell" rating and decreased their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Macquarie cut shares of NIO from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, HSBC downgraded shares of NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $5.38.

NIO Price Performance

The firm has a fifty day moving average price of $4.42 and a 200-day moving average price of $4.75. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Hedge Funds Weigh In On NIO

Large investors have recently made changes to their positions in the stock. FMR LLC boosted its stake in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of NIO in the third quarter worth about $4,879,000. SG Americas Securities LLC boosted its position in shares of NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock valued at $5,018,000 after acquiring an additional 589,082 shares during the period. Quadrature Capital Ltd increased its holdings in NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock worth $14,756,000 after acquiring an additional 538,907 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in NIO in the 4th quarter worth approximately $1,776,000. 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.