NIO (NYSE:NIO) Trading Up 1.1% - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price rose 1.1% during trading on Thursday . The company traded as high as $4.30 and last traded at $4.25. Approximately 14,334,572 shares were traded during trading, a decline of 65% from the average daily volume of 41,372,059 shares. The stock had previously closed at $4.20.

Wall Street Analysts Forecast Growth

NIO has been the subject of several research analyst reports. HSBC lowered NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. The Goldman Sachs Group lowered 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 note on Monday, November 25th. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Macquarie downgraded shares of NIO from an "outperform" rating to a "neutral" rating and cut their target price for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. downgraded shares of NIO from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $5.38.

NIO Stock Performance

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 firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of -2.70 and a beta of 1.69. The business has a 50-day moving average price of $4.42 and a 200-day moving average price of $4.76.

Institutional Investors Weigh In On NIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of NIO in the 3rd quarter valued at approximately $32,000. Blue Trust Inc. raised its holdings in shares of NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after buying an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after buying an additional 4,332 shares during the period. Callan Family Office LLC purchased a new stake in shares of NIO during the fourth quarter valued at $44,000. Finally, Trilogy Capital Inc. acquired a new position in shares of NIO in the 4th quarter valued at $45,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

About NIO

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.