Shares of Nio Inc - (NYSE:NIO - Get Free Report) rose 2.1% during mid-day trading on Wednesday . The stock traded as high as $4.14 and last traded at $4.13. Approximately 12,241,008 shares traded hands during trading, a decline of 70% from the average daily volume of 41,347,953 shares. The stock had previously closed at $4.04.
Wall Street Analyst Weigh In
NIO has been the topic of several research reports. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Hsbc Global Res lowered NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. HSBC lowered NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. The Goldman Sachs Group lowered NIO from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Finally, Macquarie lowered NIO from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $5.38.
View Our Latest Stock Analysis on NIO
NIO Stock Up 4.1 %
The firm has a market cap of $9.26 billion, a price-to-earnings ratio of -2.94 and a beta of 1.68. The firm's 50 day moving average price is $4.39 and its two-hundred day moving average price is $4.75. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.
Institutional Investors Weigh In On NIO
Hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in NIO in the third quarter valued at about $32,000. Blue Trust Inc. lifted its position in NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after purchasing an additional 3,607 shares during the period. Jones Financial Companies Lllp lifted its position in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after purchasing an additional 4,332 shares during the period. Sava Infond d.o.o. acquired a new stake in NIO in the fourth quarter valued at about $44,000. Finally, Callan Family Office LLC acquired a new stake in NIO in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 48.55% of the company's stock.
NIO Company Profile
(
Get Free Report)
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.
Further Reading
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