NIO (NYSE:NIO) Stock Price Up 2.5% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report)'s share price was up 2.5% during trading on Friday . The stock traded as high as $4.55 and last traded at $4.37. Approximately 31,198,580 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 43,335,805 shares. The stock had previously closed at $4.26.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. The Goldman Sachs Group lowered NIO from a "neutral" rating to a "sell" rating and dropped their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Macquarie downgraded NIO from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. JPMorgan Chase & Co. cut shares of NIO from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $5.38.

NIO Stock Performance

The firm has a 50 day moving average price of $4.37 and a 200-day moving average price of $4.75. 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 company has a market cap of $9.26 billion, a P/E ratio of -2.94 and a beta of 1.68.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. FMR LLC boosted its holdings 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 buying an additional 5,296,601 shares during the period. Trexquant Investment LP acquired a new position in NIO during the 4th quarter worth $3,305,000. Point72 Hong Kong Ltd bought a new stake in NIO during the third quarter valued at about $4,879,000. SG Americas Securities LLC grew its position in shares of NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock valued at $5,018,000 after purchasing an additional 589,082 shares during the last quarter. Finally, Quadrature Capital Ltd increased its stake in shares of NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock worth $14,756,000 after purchasing an additional 538,907 shares during the period. Institutional investors and hedge funds own 48.55% of the company's stock.

About NIO

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.