NIO (NYSE:NIO) Trading 1% Higher – Here’s What Happened

Nio Inc – (NYSE:NIO) shares rose 1% on Monday . The company traded as high as $5.04 and last traded at $4.95. Approximately 13,289,533 shares changed hands during trading, a decline of 76% from the average daily volume of 54,984,946 shares. The stock had previously closed at $4.90.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NIO shares. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group cut 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 research note on Monday, November 25th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Macquarie lowered 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. Finally, JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.03.

NIO Trading Up 3.1 %

The company has a 50-day simple moving average of $4.40 and a 200-day simple moving average of $4.86. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The stock has a market cap of $10.82 billion, a P/E ratio of -3.43 and a beta of 1.81.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Toronto Dominion Bank raised its stake in shares of NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after acquiring an additional 132,237 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of NIO in the fourth quarter valued at approximately $1,360,000. AlphaStar Capital Management LLC bought a new position in NIO in the 4th quarter worth approximately $537,000. FMR LLC lifted its holdings in NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in NIO in the 3rd quarter valued at $1,327,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.