Nio Inc - (NYSE:NIO) Sees Large Decline in Short Interest

Nio Inc - (NYSE:NIO - Get Free Report) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 154,970,000 shares, a decrease of 20.8% from the November 30th total of 195,740,000 shares. Based on an average trading volume of 66,920,000 shares, the short-interest ratio is presently 2.3 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new position in shares of NIO during the 3rd quarter worth $32,000. Caprock Group LLC bought a new position in NIO during the second quarter worth about $63,000. AE Wealth Management LLC purchased a new position in shares of NIO in the second quarter worth about $75,000. First Trust Direct Indexing L.P. purchased a new position in shares of NIO in the third quarter worth about $76,000. Finally, Apollon Wealth Management LLC bought a new stake in shares of NIO in the third quarter valued at approximately $78,000. 48.55% of the stock is owned by institutional investors.

NIO Stock Performance

NYSE NIO traded down $0.21 during trading hours on Friday, reaching $4.48. 40,880,453 shares of the company were exchanged, compared to its average volume of 56,210,566. The stock has a market capitalization of $7.70 billion, a P/E ratio of -2.97 and a beta of 1.77. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. NIO has a 1 year low of $3.61 and a 1 year high of $9.57. The business's 50 day simple moving average is $4.79 and its 200-day simple moving average is $4.80.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of analyst reports. Wolfe Research started coverage on NIO in a research note on Thursday, September 5th. They set a "peer perform" rating for the company. JPMorgan Chase & Co. upgraded NIO from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $5.30 to $8.00 in a report on Friday, September 6th. The Goldman Sachs Group cut NIO from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Daiwa America raised shares of NIO to a "strong-buy" rating in a report on Monday, September 30th. Finally, Bank of America increased their target price on shares of NIO from $5.00 to $5.30 and gave the company a "neutral" rating in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $5.71.

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.