NIO (NYSE:NIO) Stock Price Up 2.3% – What’s Next?

Shares of Nio Inc – (NYSE:NIO) rose 2.3% during trading on Thursday . The company traded as high as $4.51 and last traded at $4.42. Approximately 10,774,675 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 56,583,453 shares. The stock had previously closed at $4.32.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Macquarie downgraded shares of 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 report on Wednesday, November 20th. Bank of America increased their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Wolfe Research began coverage on NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.71.

NIO Price Performance

The company has a market capitalization of $7.80 billion, a P/E ratio of -3.01 and a beta of 1.77. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The company’s 50-day moving average price is $4.87 and its two-hundred day moving average price is $4.81.

Institutional Investors Weigh In On NIO

Several hedge funds have recently bought and sold shares of NIO. Allspring Global Investments Holdings LLC bought a new position in shares of NIO during the third quarter worth approximately $32,000. Ridgewood Investments LLC bought a new position in NIO during the 2nd quarter worth $25,000. First Trust Direct Indexing L.P. bought a new stake in shares of NIO in the third quarter valued at about $76,000. Apollon Wealth Management LLC bought a new stake in shares of NIO in the third quarter valued at about $78,000. Finally, Sivia Capital Partners LLC acquired a new position in shares of NIO in the third quarter valued at about $92,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.