NIO (NYSE:NIO) Stock Price Up 1.7% – Here’s What Happened

Shares of Nio Inc – (NYSE:NIO) rose 1.7% on Wednesday . The company traded as high as $4.52 and last traded at $4.44. Approximately 18,425,814 shares changed hands during trading, a decline of 57% from the average daily volume of 43,335,148 shares. The stock had previously closed at $4.36.

Analyst Ratings Changes

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

NIO Trading Up 1.0 %

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 company has a 50 day moving average of $4.37 and a two-hundred day moving average of $4.75. The stock has a market cap of $9.19 billion, a PE ratio of -2.92 and a beta of 1.68.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its stake 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. Trexquant Investment LP acquired a new position in shares of NIO during the 4th quarter worth approximately $3,305,000. Point72 Hong Kong Ltd acquired a new position in shares of NIO during the 3rd quarter worth approximately $4,879,000. SG Americas Securities LLC boosted its holdings in shares of NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after purchasing an additional 589,082 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after acquiring an additional 538,907 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.