NIO (NYSE:NIO) Stock Price Up 0.2% – What’s Next?

Shares of Nio Inc – (NYSE:NIO) traded up 0.2% during mid-day trading on Monday . The company traded as high as $4.57 and last traded at $4.52. 14,051,820 shares were traded during mid-day trading, a decline of 75% from the average session volume of 56,802,891 shares. The stock had previously closed at $4.51.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NIO shares. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Bank of America boosted their target price on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and dropped their price target for the company from $4.80 to $3.90 in a report on Monday, November 25th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Wolfe Research began coverage on NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.71.

NIO Stock Performance

The stock has a market capitalization of $7.60 billion, a P/E ratio of -2.93 and a beta of 1.77. The stock’s 50-day simple moving average is $5.07 and its 200 day simple moving average is $4.84. 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 Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Cetera Advisors LLC raised its position in shares of NIO by 26.2% in the first quarter. Cetera Advisors LLC now owns 33,671 shares of the company’s stock valued at $152,000 after buying an additional 6,981 shares in the last quarter. CWM LLC grew its holdings in NIO by 16.0% during the 2nd quarter. CWM LLC now owns 24,399 shares of the company’s stock worth $102,000 after acquiring an additional 3,371 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of NIO by 122.9% during the second quarter. Sequoia Financial Advisors LLC now owns 32,722 shares of the company’s stock valued at $136,000 after purchasing an additional 18,039 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of NIO by 4.8% in the second quarter. Assenagon Asset Management S.A. now owns 63,093 shares of the company’s stock valued at $262,000 after buying an additional 2,915 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in NIO by 22.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after buying an additional 2,651 shares in the last quarter. 48.55% of the stock is owned by 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.