NIO (NYSE:NIO) Stock Price Up 1.7% – What’s Next?

Nio Inc – (NYSE:NIO) rose 1.7% during mid-day trading on Thursday . The stock traded as high as $4.19 and last traded at $4.17. Approximately 13,133,258 shares traded hands during trading, a decline of 68% from the average daily volume of 41,654,406 shares. The stock had previously closed at $4.10.

Analysts Set New Price Targets

NIO has been the topic of several analyst reports. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Finally, HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Performance

The business’s 50 day moving average price is $4.51 and its two-hundred day moving average price is $4.79. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Investors Weigh In On NIO

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in NIO during the 3rd quarter worth approximately $32,000. First Trust Direct Indexing L.P. bought a new position in NIO during the 3rd quarter worth approximately $76,000. Apollon Wealth Management LLC bought a new position in NIO during the 3rd quarter worth approximately $78,000. Sivia Capital Partners LLC bought a new position in NIO during the 3rd quarter worth approximately $92,000. Finally, Avior Wealth Management LLC raised its holdings in NIO by 106.1% during the 3rd quarter. Avior Wealth Management LLC now owns 14,588 shares of the company’s stock worth $97,000 after purchasing an additional 7,510 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.