NIO (NYSE:NIO) Trading Up 2.8% - Here's Why

Shares of Nio Inc - (NYSE:NIO - Get Free Report) traded up 2.8% during mid-day trading on Friday . The stock traded as high as $4.22 and last traded at $4.25. 8,078,009 shares were traded during mid-day trading, a decline of 80% from the average session volume of 40,244,711 shares. The stock had previously closed at $4.13.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NIO shares. Macquarie lowered 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 research note on Wednesday, November 20th. The Goldman Sachs Group cut shares of 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 report on Monday, November 25th. Daiwa America upgraded shares of NIO to a "strong-buy" rating in a report on Monday, September 30th. Hsbc Global Res cut NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, HSBC cut NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Two 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $5.71.

NIO Trading Up 3.5 %

The business's 50-day moving average is $4.48 and its two-hundred day moving average is $4.78. The stock has a market capitalization of $7.36 billion, a PE ratio of -2.83 and a beta of 1.70. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Investors Weigh In On NIO

Several large investors have recently modified their holdings of NIO. FMR LLC raised its stake in NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the last quarter. Quadrature Capital Ltd raised its stake in shares of NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock worth $14,756,000 after purchasing an additional 538,907 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of NIO by 104.8% during the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock worth $5,018,000 after purchasing an additional 589,082 shares during the period. Swedbank AB grew its position in NIO by 0.8% in the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company's stock valued at $4,657,000 after buying an additional 9,000 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in NIO during the 3rd quarter worth $4,879,000. 48.55% of the stock is 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.