NIO (NYSE:NIO) Shares Up 4.6% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report)'s share price rose 4.6% during mid-day trading on Wednesday . The stock traded as high as $4.41 and last traded at $4.42. Approximately 14,075,291 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 54,403,403 shares. The stock had previously closed at $4.22.

Wall Street Analyst Weigh In

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

NIO Price Performance

The company's 50 day moving average is $4.34 and its 200-day moving average is $4.80. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of -2.86 and a beta of 1.81. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Hedge Funds Weigh In On NIO

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