NIO (NYSE:NIO) Stock Price Up 0.4% - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report) shares were up 0.4% during trading on Tuesday . The company traded as high as $4.30 and last traded at $4.29. Approximately 11,883,104 shares changed hands during trading, a decline of 71% from the average daily volume of 41,037,113 shares. The stock had previously closed at $4.27.

Wall Street Analyst Weigh In

NIO has been the topic of several research analyst reports. Macquarie lowered NIO from an "outperform" rating to a "neutral" rating and cut their target price for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. The Goldman Sachs Group lowered NIO from a "neutral" rating to a "sell" rating and decreased their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Daiwa America raised NIO to a "strong-buy" rating in a research note on Monday, September 30th. Hsbc Global Res cut NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, HSBC downgraded shares of NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $5.71.

NIO Stock Performance

The stock has a market cap of $7.36 billion, a P/E ratio of -2.86 and a beta of 1.70. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company's 50-day simple moving average is $4.47 and its 200 day simple moving average is $4.78.

Institutional Investors Weigh In On NIO

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new position in NIO during the second quarter valued at about $1,076,000. International Assets Investment Management LLC boosted its stake in NIO by 580.9% in the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company's stock valued at $2,621,000 after acquiring an additional 334,723 shares during the last quarter. Toronto Dominion Bank grew its position in shares of NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock valued at $883,000 after acquiring an additional 132,237 shares during the period. FMR LLC increased its stake in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in shares of NIO in the 3rd quarter worth approximately $1,327,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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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