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

Nio Inc – (NYSE:NIO) gapped up prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

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

NIO Price Performance

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock’s 50-day moving average price is $4.41 and its 200-day moving average price is $4.86. The company has a market capitalization of $10.78 billion, a price-to-earnings ratio of -3.42 and a beta of 1.81.

Institutional Trading of NIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of NIO by 138.5% during the fourth 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 period. Jones Financial Companies Lllp increased its position in shares of NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after acquiring an additional 4,332 shares during the last quarter. Callan Family Office LLC bought a new stake in shares of NIO during the 4th quarter worth approximately $44,000. Sava Infond d.o.o. bought a new stake in NIO during the fourth quarter worth $44,000. Finally, Trilogy Capital Inc. bought a new stake in shares of NIO in the 4th quarter valued at about $45,000. 48.55% of the stock is owned by institutional investors.

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.