Short Interest in Nio Inc – (NYSE:NIO) Declines By 20.8%

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

NIO Price Performance

Shares of NIO traded down $0.10 during mid-day trading on Monday, hitting $4.38. 36,306,035 shares of the stock were exchanged, compared to its average volume of 56,132,555. The firm has a 50-day moving average of $4.79 and a two-hundred day 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 company has a market cap of $7.53 billion, a PE ratio of -2.90 and a beta of 1.77.

Analyst Ratings Changes

Several research firms have issued reports on NIO. Bank of America boosted their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Wolfe Research began coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Citigroup lowered their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Two research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.71.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently made changes to their positions in NIO. Bank of New York Mellon Corp lifted its holdings in shares of NIO by 32.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after acquiring an additional 343,910 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in shares of NIO in the 2nd quarter worth approximately $160,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in NIO by 2.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 720,267 shares of the company’s stock valued at $2,996,000 after buying an additional 19,191 shares during the period. Principal Financial Group Inc. bought a new stake in NIO in the second quarter worth $130,000. Finally, Signaturefd LLC boosted its stake in NIO by 31.1% during the second quarter. Signaturefd LLC now owns 41,590 shares of the company’s stock worth $173,000 after buying an additional 9,860 shares during the period. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.