NIO (NYSE:NIO) Shares Gap Up – Here’s What Happened

Nio Inc – (NYSE:NIOGet Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.03, but opened at $5.28. NIO shares last traded at $5.14, with a volume of 22,699,635 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and cut their price target for the company from $4.80 to $3.90 in a research note on Monday, November 25th. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.03.

View Our Latest Research Report on NIO

NIO Stock Performance

The stock has a 50-day moving average of $4.38 and a 200-day moving average of $4.85. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of -3.47 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Institutional Investors Weigh In On NIO

A number of hedge funds and other institutional investors have recently bought and sold shares of NIO. Blue Trust Inc. increased its position in shares of NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after purchasing an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of NIO by 131.8% during the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after purchasing an additional 4,332 shares during the last quarter. Callan Family Office LLC acquired a new position in shares of NIO during the 4th quarter worth approximately $44,000. Sava Infond d.o.o. acquired a new position in shares of NIO during the 4th quarter worth approximately $44,000. Finally, Trilogy Capital Inc. acquired a new position in shares of NIO during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Company Profile

(Get Free Report)

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.

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