NIO (NYSE:NIO) Shares Up 1.5% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report)'s share price shot up 1.5% during mid-day trading on Monday . The stock traded as high as $4.35 and last traded at $4.31. 15,735,825 shares traded hands during trading, a decline of 62% from the average session volume of 40,920,641 shares. The stock had previously closed at $4.24.

Analyst Ratings Changes

NIO has been the subject of a number of analyst reports. Hsbc Global Res cut NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of NIO from an "overweight" rating to a "neutral" rating and cut their price target for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Macquarie cut shares of NIO from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group downgraded 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 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 stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $5.38.

NIO Stock Performance

The stock's 50 day moving average is $4.40 and its two-hundred day moving average is $4.75. The firm has a market capitalization of $8.88 billion, a P/E ratio of -2.82 and a beta of 1.68. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Institutional Investors Weigh In On NIO

Several hedge funds have recently bought and sold shares of the company. Bridgewater Associates LP grew its stake in NIO by 28.6% in the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock valued at $5,170,000 after acquiring an additional 263,338 shares during the period. Guggenheim Capital LLC raised its holdings in NIO by 19.7% during the 4th quarter. Guggenheim Capital LLC now owns 38,888 shares of the company's stock worth $170,000 after buying an additional 6,395 shares during the period. LaSalle St. Investment Advisors LLC bought a new position in NIO in the fourth quarter valued at approximately $119,000. Raymond James Financial Inc. acquired a new position in shares of NIO in the fourth quarter valued at approximately $1,776,000. Finally, Krane Funds Advisors LLC increased its position in shares of NIO by 39.4% during the fourth quarter. Krane Funds Advisors LLC now owns 662,100 shares of the company's stock worth $2,887,000 after acquiring an additional 187,260 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.