NIO (NYSE:NIO) Trading 3.8% Higher - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price traded up 3.8% on Friday . The stock traded as high as $4.69 and last traded at $4.54. 43,196,259 shares were traded during mid-day trading, a decline of 3% from the average session volume of 44,732,063 shares. The stock had previously closed at $4.37.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. The Goldman Sachs Group lowered shares of NIO from a "neutral" rating to a "sell" rating and decreased their price target for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Macquarie lowered shares of NIO from an "outperform" rating to a "neutral" rating and decreased their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NIO currently has an average rating of "Hold" and an average target price of $5.38.

NIO Stock Performance

The firm has a market capitalization of $9.11 billion, a PE ratio of -2.89 and a beta of 1.69. 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 company's fifty day simple moving average is $4.35 and its 200 day simple moving average is $4.77.

Institutional Investors Weigh In On NIO

Several institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in shares of NIO by 580.9% during the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company's stock valued at $2,621,000 after buying an additional 334,723 shares during the period. Toronto Dominion Bank increased its position in shares of NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock valued at $883,000 after buying an additional 132,237 shares during the period. AlphaStar Capital Management LLC bought a new stake in shares of NIO during the fourth quarter valued at about $537,000. FMR LLC increased its position 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 valued at $36,038,000 after buying an additional 5,296,601 shares during the period. Finally, Main Management ETF Advisors LLC bought a new stake in shares of NIO during the third quarter valued at about $1,327,000. 48.55% of the stock is 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.