NIO (NYSE:NIO) Trading 2.1% Higher - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price shot up 2.1% during trading on Wednesday . The company traded as high as $4.14 and last traded at $4.13. 12,241,008 shares traded hands during trading, a decline of 70% from the average session volume of 41,347,953 shares. The stock had previously closed at $4.04.

Wall Street Analysts Forecast Growth

NIO has been the topic of a number of research reports. Hsbc Global Res downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group downgraded shares of NIO from a "neutral" rating to a "sell" rating and cut their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. JPMorgan Chase & Co. downgraded shares of NIO from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Macquarie downgraded shares of NIO from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, HSBC cut shares of NIO from a "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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $5.38.

NIO Stock Performance

The stock's 50-day simple moving average is $4.37 and its 200 day simple moving average 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. The stock has a market capitalization of $9.26 billion, a P/E ratio of -2.94 and a beta of 1.68.

Institutional Investors Weigh In On NIO

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its stake in NIO by 580.9% during the 3rd quarter. International Assets Investment Management LLC now owns 392,343 shares of the company's stock worth $2,621,000 after acquiring an additional 334,723 shares during the period. Toronto Dominion Bank boosted its holdings in shares of NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock valued at $883,000 after acquiring an additional 132,237 shares in the last quarter. AlphaStar Capital Management LLC acquired a new stake in shares of NIO during the 4th quarter valued at $537,000. 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 valued at $36,038,000 after acquiring an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in NIO during the 3rd quarter worth about $1,327,000. 48.55% of the stock is currently 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.