NIO (NYSE:NIO) Shares Up 4.6% – Here’s Why

Nio Inc – (NYSE:NIO)’s stock price rose 4.6% on Wednesday . The stock traded as high as $4.41 and last traded at $4.42. Approximately 14,075,291 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 54,403,403 shares. The stock had previously closed at $4.22.

Analyst Upgrades and Downgrades

Several analysts have commented on NIO shares. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NIO has a consensus rating of “Hold” and a consensus price target of $5.38.

NIO Trading Up 3.7 %

The company has a 50 day moving average price of $4.35 and a two-hundred day moving average price of $4.80. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of -2.90 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Shufro Rose & Co. LLC purchased a new position in NIO in the 4th quarter valued at about $65,000. Vident Advisory LLC raised its holdings in shares of NIO by 60.6% during the fourth quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock valued at $235,000 after acquiring an additional 20,349 shares during the last quarter. Vienna Asset Management LLC purchased a new position in shares of NIO in the fourth quarter valued at approximately $100,000. Laird Norton Wetherby Trust Company LLC acquired a new position in NIO in the 4th quarter valued at $93,000. Finally, Laird Norton Wetherby Wealth Management LLC lifted its holdings in NIO by 15.1% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock valued at $290,000 after purchasing an additional 8,746 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.