NIO (NYSE:NIO) Shares Up 1% - Here's What Happened

Shares of Nio Inc - (NYSE:NIO - Get Free Report) were up 1% during trading on Monday . The stock traded as high as $5.04 and last traded at $4.95. Approximately 13,289,533 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 54,984,946 shares. The stock had previously closed at $4.90.

Wall Street Analysts Forecast Growth

Several analysts have commented on NIO shares. HSBC cut shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Hsbc Global Res cut shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. 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 research note on Tuesday, February 4th. Macquarie downgraded shares of NIO from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group downgraded shares of NIO from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $5.03.

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NIO Price Performance

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 firm has a market cap of $9.84 billion, a price-to-earnings ratio of -3.12 and a beta of 1.81. The stock's 50 day simple moving average is $4.42 and its 200-day simple moving average is $4.86.

Institutional Trading of NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PDS Planning Inc grew its position in NIO by 13.0% during the fourth quarter. PDS Planning Inc now owns 22,786 shares of the company's stock valued at $99,000 after buying an additional 2,627 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in NIO by 25.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock valued at $59,000 after buying an additional 2,712 shares during the period. Franklin Resources Inc. lifted its holdings in NIO by 20.4% during the fourth quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock valued at $72,000 after purchasing an additional 2,788 shares in the last quarter. Perigon Wealth Management LLC grew its position in shares of NIO by 24.1% in the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock valued at $61,000 after purchasing an additional 2,867 shares during the period. Finally, TD Waterhouse Canada Inc. grew its position in shares of NIO by 17.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company's stock valued at $94,000 after purchasing an additional 3,152 shares during the period. 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.