NIO (NYSE:NIO) Stock Price Up 2.1% – What’s Next?

Nio Inc – (NYSE:NIO)’s share price shot up 2.1% on Wednesday . The stock traded as high as $4.14 and last traded at $4.13. 12,241,008 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 41,347,953 shares. The stock had previously closed at $4.04.

Analyst Upgrades and Downgrades

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

NIO Stock Up 3.3 %

The stock has a market cap of $8.71 billion, a price-to-earnings ratio of -2.76 and a beta of 1.68. The business has a fifty day moving average of $4.40 and a 200 day moving average of $4.75. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Institutional Investors Weigh In On NIO

Several institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of NIO in the third quarter worth $32,000. Blue Trust Inc. boosted its holdings in NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after acquiring an additional 3,607 shares during the period. Jones Financial Companies Lllp boosted its holdings in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after acquiring an additional 4,332 shares during the period. Sava Infond d.o.o. acquired a new stake in shares of NIO in the fourth quarter valued at about $44,000. Finally, Callan Family Office LLC bought a new position in shares of NIO in the fourth quarter worth about $44,000. 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.