NIO (NYSE:NIO) Trading 4.7% Higher – Here’s What Happened

Nio Inc – (NYSE:NIO)’s share price shot up 4.7% during trading on Monday . The stock traded as high as $4.42 and last traded at $4.36. 50,208,693 shares were traded during mid-day trading, an increase of 46% from the average session volume of 34,501,576 shares. The stock had previously closed at $4.16.

Analysts Set New Price Targets

NIO has been the subject of several research reports. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Daiwa America raised NIO to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Hsbc Global Res downgraded NIO from a “strong-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, nine have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NIO currently has an average rating of “Hold” and a consensus price target of $5.71.

NIO Price Performance

The stock has a 50 day moving average of $4.51 and a 200 day moving average of $4.79. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. increased its position in NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after buying an additional 4,018,659 shares during the period. FMR LLC lifted its holdings in shares of NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after buying an additional 5,296,601 shares during the period. Quadrature Capital Ltd boosted its stake in NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after buying an additional 538,907 shares in the last quarter. SG Americas Securities LLC raised its position in NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after acquiring an additional 589,082 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of NIO during the 3rd quarter valued at about $4,879,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.