NIO (NYSE:NIO) Shares Up 5.4% – Here’s What Happened

Shares of Nio Inc – (NYSE:NIO) traded up 5.4% on Friday . The stock traded as high as $4.42 and last traded at $4.39. 21,830,946 shares changed hands during trading, a decline of 47% from the average session volume of 40,854,066 shares. The stock had previously closed at $4.16.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. HSBC cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NIO has an average rating of “Hold” and a consensus target price of $5.71.

NIO Trading Up 5.2 %

The firm has a market capitalization of $7.52 billion, a PE ratio of -2.90 and a beta of 1.70. 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 company has a fifty day moving average of $4.53 and a 200-day moving average of $4.79.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in NIO in the third quarter worth $32,000. First Trust Direct Indexing L.P. bought a new stake in shares of NIO during the 3rd quarter worth about $76,000. Apollon Wealth Management LLC acquired a new position in NIO during the third quarter valued at approximately $78,000. Sivia Capital Partners LLC bought a new position in shares of NIO in the third quarter valued at approximately $92,000. Finally, Avior Wealth Management LLC boosted its holdings in shares of NIO by 106.1% during the 3rd quarter. Avior Wealth Management LLC now owns 14,588 shares of the company’s stock worth $97,000 after buying an additional 7,510 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.