Nio Inc – (NYSE:NIO – Get Free Report)’s share price was up 2.9% during trading on Tuesday . The stock 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 Upgrades and Downgrades
A number of analysts have recently commented on NIO shares. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Wolfe Research began coverage on shares of NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Bank of America raised their price target on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Citigroup lowered their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.71.
NIO Trading Up 3.1 %
Institutional Trading of NIO
Large investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in NIO by 140.2% in the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock worth $502,000 after purchasing an additional 43,839 shares during the period. Garden State Investment Advisory Services LLC acquired a new stake in shares of NIO in the 3rd quarter valued at about $374,000. Tidal Investments LLC increased its position in NIO by 2.4% in the 3rd quarter. Tidal Investments LLC now owns 280,140 shares of the company’s stock valued at $1,871,000 after buying an additional 6,545 shares in the last quarter. Sanctuary Advisors LLC raised its stake in NIO by 63.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company’s stock worth $553,000 after buying an additional 32,069 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after acquiring an additional 132,237 shares in the last quarter. 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.
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