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

Shares of Nio Inc – (NYSE:NIO) gapped up before the market opened on Tuesday . The stock had previously closed at $4.46, but opened at $4.75. NIO shares last traded at $4.85, with a volume of 22,359,445 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NIO shares. Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and reduced their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Finally, HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.30.

NIO Trading Down 2.4 %

The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock has a fifty day moving average of $4.35 and a two-hundred day moving average of $4.82. The company has a market capitalization of $10.63 billion, a PE ratio of -3.37 and a beta of 1.81.

Institutional Investors Weigh In On NIO

Large investors have recently made changes to their positions in the business. 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. SBI Securities Co. Ltd. purchased a new stake in NIO during the fourth quarter valued at $1,360,000. AlphaStar Capital Management LLC purchased a new stake in NIO in the fourth quarter worth about $537,000. FMR LLC increased its position in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new stake in NIO in the third quarter worth about $1,327,000. 48.55% of the stock is currently owned by institutional investors.

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.