NIO (NYSE:NIO) Trading 2.5% Higher - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price was up 2.5% during trading on Friday . The company traded as high as $4.55 and last traded at $4.37. Approximately 31,198,580 shares traded hands during 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

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

NIO Stock Up 0.6 %

The business has a fifty day simple moving average of $4.36 and a two-hundred day simple moving average of $4.75. 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 has a market cap of $9.15 billion, a PE ratio of -2.90 and a beta of 1.68.

Hedge Funds Weigh In On NIO

Institutional investors have recently bought and sold shares of the company. Vident Advisory LLC lifted its stake in NIO by 60.6% in the fourth quarter. Vident Advisory LLC now owns 53,937 shares of the company's stock valued at $235,000 after buying an additional 20,349 shares during the last quarter. Vienna Asset Management LLC purchased a new stake in shares of NIO in the fourth quarter valued at $100,000. Laird Norton Wetherby Trust Company LLC purchased a new stake in shares of NIO in the fourth quarter valued at $93,000. Laird Norton Wetherby Wealth Management LLC lifted its position in NIO by 15.1% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company's stock worth $290,000 after buying an additional 8,746 shares during the period. Finally, J. Goldman & Co LP purchased a new position in NIO during the fourth quarter worth about $541,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.