Shares of Nio Inc - (NYSE:NIO - Get Free Report) traded up 5.4% during trading on Friday . The stock traded as high as $4.42 and last traded at $4.39. 21,830,946 shares were traded during mid-day trading, a decline of 47% from the average session volume of 40,854,066 shares. The stock had previously closed at $4.16.
Analysts Set New Price Targets
NIO has been the subject of a number of research reports. Hsbc Global Res cut shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Macquarie lowered NIO from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. The Goldman Sachs Group downgraded NIO from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. HSBC cut NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Daiwa America raised NIO to a "strong-buy" rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NIO presently has an average rating of "Hold" and an average price target of $5.71.
Read Our Latest Stock Report on NIO
NIO Stock Performance
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 business has a 50-day moving average of $4.51 and a 200-day moving average of $4.79. The company has a market capitalization of $7.49 billion, a P/E ratio of -2.88 and a beta of 1.70.
Hedge Funds Weigh In On NIO
A number of large investors have recently made changes to their positions in NIO. Allspring Global Investments Holdings LLC bought a new stake in NIO in the third quarter worth about $32,000. AE Wealth Management LLC bought a new stake in shares of NIO during the 2nd quarter worth approximately $75,000. First Trust Direct Indexing L.P. purchased a new position in NIO during the 3rd quarter valued at $76,000. Apollon Wealth Management LLC bought a new position in NIO in the 3rd quarter valued at $78,000. Finally, Sivia Capital Partners LLC purchased a new stake in NIO in the third quarter worth $92,000. 48.55% of the stock is owned by hedge funds and other institutional investors.
About NIO
(
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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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