NIO (NYSE:NIO) Stock Price Up 2.9% – What’s Next?

Nio Inc – (NYSE:NIO)’s share price rose 2.9% during trading on Tuesday . The company traded as high as $4.66 and last traded at $4.61. Approximately 12,982,673 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 56,311,289 shares. The stock had previously closed at $4.48.

Analyst Ratings Changes

Several brokerages recently weighed in on NIO. Citigroup dropped their target price on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Wolfe Research initiated coverage on shares of NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. The Goldman Sachs Group downgraded shares of 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 research report on Monday, November 25th. Finally, Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.71.

NIO Price Performance

The firm has a market cap of $7.94 billion, a price-to-earnings ratio of -3.06 and a beta of 1.77. The stock’s fifty day moving average price is $4.83 and its 200-day moving average price is $4.80. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. FMR LLC lifted its stake in NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in NIO by 164.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after acquiring an additional 4,018,659 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in NIO during the 3rd quarter valued at about $4,879,000. Quadrature Capital Ltd grew its position in NIO by 32.3% in the 3rd 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 in the last quarter. Finally, Krane Funds Advisors LLC increased its stake in NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock worth $6,401,000 after purchasing an additional 370,556 shares during the period. Institutional investors and hedge funds 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.