NIO (NYSE:NIO) Shares Up 2.5% – Here’s Why

Nio Inc – (NYSE:NIO) shares were up 2.5% on Tuesday . The stock traded as high as $4.56 and last traded at $4.49. Approximately 16,059,290 shares traded hands during trading, a decline of 71% from the average daily volume of 55,966,594 shares. The stock had previously closed at $4.38.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NIO shares. Bank of America boosted their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Wolfe Research assumed coverage on shares of NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Daiwa America raised NIO to a “strong-buy” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NIO has an average rating of “Hold” and a consensus price target of $5.71.

NIO Price Performance

The company has a market capitalization of $7.56 billion, a PE ratio of -2.91 and a beta of 1.77. The stock has a 50 day moving average price of $4.77 and a two-hundred day moving average price of $4.80. 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NIO. Allspring Global Investments Holdings LLC bought a new position in NIO in the 3rd quarter worth $32,000. Caprock Group LLC acquired a new stake in NIO in the 2nd quarter worth $63,000. AE Wealth Management LLC bought a new position in shares of NIO during the 2nd quarter worth about $75,000. First Trust Direct Indexing L.P. acquired a new position in shares of NIO during the third quarter valued at about $76,000. Finally, Apollon Wealth Management LLC acquired a new stake in NIO during the third quarter worth about $78,000. 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.