NIO (NYSE:NIO) Trading 1.5% Higher – What’s Next?

Nio Inc – (NYSE:NIO)’s share price rose 1.5% during trading on Monday . The company traded as high as $4.35 and last traded at $4.31. Approximately 15,735,825 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 40,920,641 shares. The stock had previously closed at $4.24.

Wall Street Analysts Forecast Growth

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

NIO Stock Performance

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 firm’s 50-day moving average price is $4.40 and its 200-day moving average price is $4.75. The stock has a market cap of $8.79 billion, a P/E ratio of -2.79 and a beta of 1.68.

Institutional Trading of NIO

Several hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of NIO during the third quarter valued at about $32,000. Blue Trust Inc. boosted its stake 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 buying an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in NIO by 131.8% during the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after buying an additional 4,332 shares in the last quarter. Sava Infond d.o.o. bought a new stake in NIO in the 4th quarter worth approximately $44,000. Finally, Callan Family Office LLC purchased a new stake in shares of NIO during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors 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.