NIO (NYSE:NIO) Trading 3.4% Higher - Here's What Happened

Shares of Nio Inc - (NYSE:NIO - Get Free Report) traded up 3.4% on Tuesday . The stock traded as high as $4.58 and last traded at $4.57. 16,345,402 shares changed hands during trading, a decline of 71% from the average session volume of 56,726,723 shares. The stock had previously closed at $4.42.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NIO. The Goldman Sachs Group lowered shares of NIO from a "neutral" rating to a "sell" rating and cut their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Daiwa America upgraded NIO to a "strong-buy" rating in a research note on Monday, September 30th. Wolfe Research assumed coverage on NIO in a research report on Thursday, September 5th. They issued a "peer perform" rating for the company. Citigroup reduced their price objective on NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $5.71.

NIO Price Performance

The business has a fifty day moving average price of $5.02 and a 200 day moving average price of $4.83. 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 company has a market capitalization of $7.81 billion, a price-to-earnings ratio of -3.01 and a beta of 1.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NIO. Cetera Advisors LLC raised its position in shares of NIO by 26.2% during the first quarter. Cetera Advisors LLC now owns 33,671 shares of the company's stock worth $152,000 after purchasing an additional 6,981 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of NIO by 4.8% during the second quarter. Assenagon Asset Management S.A. now owns 63,093 shares of the company's stock valued at $262,000 after acquiring an additional 2,915 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of NIO by 22.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company's stock valued at $61,000 after acquiring an additional 2,651 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its position in NIO by 65.1% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 76,700 shares of the company's stock worth $320,000 after purchasing an additional 30,239 shares in the last quarter. Finally, Horst & Graben Wealth Management LLC purchased a new position in NIO during the 2nd quarter worth approximately $91,000. 48.55% of the stock is currently owned by 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.