NIO (NYSE:NIO) Stock Price Up 3.4% – Here’s What Happened

Nio Inc – (NYSE:NIO) traded up 3.4% during mid-day trading on Friday . The stock traded as high as $4.59 and last traded at $4.55. 13,656,837 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 56,479,652 shares. The stock had previously closed at $4.40.

Analyst Upgrades and Downgrades

NIO has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Citigroup dropped their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Wolfe Research began coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Bank of America boosted their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Stock Up 3.9 %

The firm has a market capitalization of $7.86 billion, a P/E ratio of -3.03 and a beta of 1.77. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm’s 50-day moving average is $4.91 and its 200 day moving average is $4.82.

Institutional Investors Weigh In On NIO

Several institutional investors have recently bought and sold shares of NIO. Assenagon Asset Management S.A. lifted its position 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 worth $262,000 after purchasing an additional 2,915 shares in the last quarter. Bank of New York Mellon Corp lifted its position in NIO by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after buying an additional 343,910 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in NIO during the 2nd quarter worth about $70,000. Arkadios Wealth Advisors bought a new position in shares of NIO in the 2nd quarter valued at about $160,000. Finally, Ridgewood Investments LLC bought a new position in shares of NIO in the 2nd quarter valued at about $25,000. Institutional investors 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.