NIO (NYSE:NIO) Shares Up 9.9% - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price was up 9.9% during mid-day trading on Tuesday . The stock traded as high as $4.97 and last traded at $4.90. Approximately 50,873,836 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 54,351,028 shares. The stock had previously closed at $4.46.

Analysts Set New Price Targets

Several analysts have issued reports on NIO shares. The Goldman Sachs Group cut NIO from a "neutral" rating to a "sell" rating and dropped their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. HSBC cut NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Macquarie cut 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. Finally, Hsbc Global Res cut NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have issued 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 company has an average rating of "Hold" and an average price target of $5.30.

NIO Trading Down 2.4 %

The company has a 50 day moving average price of $4.35 and a 200 day moving average price of $4.82. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of -3.37 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

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Hedge Funds Weigh In On NIO

Several large investors have recently modified their holdings of the business. FMR LLC lifted its stake in shares of NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Quadrature Capital Ltd lifted its stake in NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock worth $14,756,000 after acquiring an additional 538,907 shares in the last quarter. Bridgewater Associates LP lifted its stake in NIO by 28.6% during the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock worth $5,170,000 after acquiring an additional 263,338 shares in the last quarter. SG Americas Securities LLC lifted its stake in NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock worth $5,018,000 after acquiring an additional 589,082 shares in the last quarter. Finally, Swedbank AB lifted its stake in NIO by 0.8% during the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company's stock worth $4,657,000 after acquiring an additional 9,000 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.