NIO (NYSE:NIO) Trading 3.7% Higher – What’s Next?

Nio Inc – (NYSE:NIO) shares traded up 3.7% during mid-day trading on Monday . The company traded as high as $4.91 and last traded at $4.80. 27,141,350 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 40,302,086 shares. The stock had previously closed at $4.63.

Analyst Ratings Changes

A number of equities analysts have commented on NIO shares. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. HSBC lowered NIO from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and reduced their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.71.

NIO Price Performance

The company has a market capitalization of $7.43 billion, a PE ratio of -2.86 and a beta of 1.70. 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 stock’s 50 day simple moving average is $4.67 and its 200-day simple moving average is $4.81.

Institutional Investors Weigh In On NIO

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of NIO during the third quarter worth $32,000. Caprock Group LLC acquired a new position in NIO during the 2nd quarter worth $63,000. AE Wealth Management LLC purchased a new stake in NIO during the 2nd quarter worth about $75,000. First Trust Direct Indexing L.P. acquired a new stake in NIO in the 3rd quarter valued at about $76,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of NIO in the 3rd quarter valued at about $78,000. 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.