NIO (NYSE:NIO) Stock Price Up 4.4% - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report)'s share price shot up 4.4% during mid-day trading on Monday . The company traded as high as $4.67 and last traded at $4.67. 29,746,646 shares were traded during trading, a decline of 45% from the average session volume of 54,210,794 shares. The stock had previously closed at $4.47.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Macquarie lowered NIO from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. The Goldman Sachs Group lowered shares of NIO from a "neutral" rating to a "sell" rating and cut their target price for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, HSBC downgraded shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $5.30.

NIO Stock Up 17.2 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm's 50-day moving average price is $4.35 and its two-hundred day moving average price is $4.82. The firm has a market cap of $10.91 billion, a PE ratio of -3.46 and a beta of 1.81.

Hedge Funds Weigh In On NIO

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its position in shares of NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after purchasing an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp grew its stake in NIO by 131.8% during the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after buying an additional 4,332 shares during the last quarter. Callan Family Office LLC acquired a new position in NIO during the fourth quarter worth approximately $44,000. Sava Infond d.o.o. purchased a new position in shares of NIO during the fourth quarter worth approximately $44,000. Finally, Trilogy Capital Inc. acquired a new position in shares of NIO in the 4th quarter valued at $45,000. 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.

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