Nio Inc – (NYSE:NIO) Short Interest Down 20.8% in December

Nio Inc – (NYSE:NIO) was the recipient of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 154,970,000 shares, a decrease of 20.8% from the November 30th total of 195,740,000 shares. Based on an average daily trading volume, of 66,920,000 shares, the days-to-cover ratio is currently 2.3 days.

NIO Stock Performance

NIO stock traded down $0.10 during midday trading on Monday, reaching $4.38. The stock had a trading volume of 36,306,035 shares, compared to its average volume of 56,132,555. The firm has a fifty day simple moving average of $4.79 and a two-hundred day simple moving average of $4.80. NIO has a 52-week low of $3.61 and a 52-week high of $8.94. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The stock has a market cap of $7.53 billion, a PE ratio of -2.90 and a beta of 1.77.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NIO. Principal Financial Group Inc. boosted its holdings in shares of NIO by 140.2% in the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock valued at $502,000 after acquiring an additional 43,839 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new stake in NIO in the third quarter valued at $374,000. Tidal Investments LLC raised its stake in shares of NIO by 2.4% during 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 during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of NIO by 63.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company’s stock valued at $553,000 after buying an additional 32,069 shares during the period. Finally, Toronto Dominion Bank grew its holdings in NIO by 1,652,962.5% during 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 during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NIO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $5.30 to $8.00 in a research note on Friday, September 6th. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and reduced their price target for the company from $4.80 to $3.90 in a report on Monday, November 25th. Citigroup dropped their price objective on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Wolfe Research initiated coverage on shares of NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.71.

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.