NIO (NYSE:NIO) Trading Up 3.7% - Here's Why

Shares of Nio Inc - (NYSE:NIO - Get Free Report) rose 3.7% during trading on Monday . The company traded as high as $4.91 and last traded at $4.80. Approximately 27,141,350 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 40,302,086 shares. The stock had previously closed at $4.63.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NIO shares. Daiwa America upgraded NIO to a "strong-buy" rating in a report on Monday, September 30th. The Goldman Sachs Group downgraded NIO from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NIO currently has a consensus rating of "Hold" and a consensus price target of $5.71.

NIO Price Performance

The stock's 50-day simple moving average is $4.71 and its 200 day simple moving average is $4.80. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The company has a market cap of $8.08 billion, a price-to-earnings ratio of -3.11 and a beta of 1.70.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in 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 during the period. Point72 Asset Management L.P. boosted its stake in shares of NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company's stock valued at $26,891,000 after purchasing an additional 4,018,659 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of NIO in the third quarter valued at approximately $4,879,000. Quadrature Capital Ltd increased 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 buying an additional 538,907 shares during the period. Finally, Krane Funds Advisors LLC lifted its holdings in NIO by 31.7% during the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company's stock worth $6,401,000 after buying an additional 370,556 shares in the last quarter. 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.