NIO (NYSE:NIO) Shares Up 0.2% - Here's What Happened

Shares of Nio Inc - (NYSE:NIO - Get Free Report) shot up 0.2% during mid-day trading on Monday . The stock traded as high as $4.57 and last traded at $4.52. 14,051,820 shares were traded during mid-day trading, a decline of 75% from the average session volume of 56,802,891 shares. The stock had previously closed at $4.51.

Analysts Set New Price Targets

NIO has been the subject of a number of research analyst reports. The Goldman Sachs Group cut NIO from a "neutral" rating to a "sell" rating and reduced their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. Macquarie downgraded NIO from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of NIO from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Wolfe Research started coverage on shares of NIO in a research report on Thursday, September 5th. They issued a "peer perform" rating for the company. Finally, Daiwa America upgraded shares of NIO to a "strong-buy" rating in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $5.71.

NIO Stock Performance

The firm's 50 day moving average price is $5.02 and its two-hundred day moving average price is $4.83. The firm has a market cap of $7.62 billion, a PE ratio of -2.93 and a beta of 1.77. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Hedge Funds Weigh In On NIO

Several large investors have recently modified their holdings of the business. Ballentine Partners LLC grew its stake in shares of NIO by 11.5% during the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company's stock worth $160,000 after purchasing an additional 2,482 shares in the last quarter. Atomi Financial Group Inc. boosted its position in shares of NIO by 15.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company's stock worth $129,000 after acquiring an additional 2,588 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings 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 during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of NIO by 4.8% in the 2nd 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 last quarter. Finally, Greenwich Wealth Management LLC raised its position in shares of NIO by 12.9% during the 2nd quarter. Greenwich Wealth Management LLC now owns 29,027 shares of the company's stock worth $121,000 after acquiring an additional 3,315 shares in the last quarter. 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.