NIO (NYSE:NIO) Trading Up 3% – Here’s What Happened

Shares of Nio Inc – (NYSE:NIO) were up 3% on Thursday . The stock traded as high as $4.38 and last traded at $4.35. Approximately 12,452,793 shares traded hands during trading, a decline of 69% from the average daily volume of 40,038,344 shares. The stock had previously closed at $4.22.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NIO shares. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and lowered their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. HSBC cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.71.

NIO Stock Performance

The stock has a market cap of $7.36 billion, a PE ratio of -2.94 and a beta of 1.70. The stock has a fifty day simple moving average of $4.45 and a two-hundred day simple moving average of $4.77. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Ballentine Partners LLC increased its holdings in shares of NIO by 11.5% in the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after acquiring an additional 2,482 shares during the last quarter. Atomi Financial Group Inc. increased its stake in NIO by 15.5% during the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock valued at $129,000 after purchasing an additional 2,588 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of NIO by 24.1% during the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock worth $61,000 after purchasing an additional 2,867 shares during the period. BSW Wealth Partners lifted its position in shares of NIO by 21.4% in the 4th quarter. BSW Wealth Partners now owns 20,423 shares of the company’s stock worth $89,000 after buying an additional 3,606 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after buying an additional 3,607 shares during the period. 48.55% of the stock is 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.