NIO (NYSE:NIO) Shares Up 4.7% – Here’s Why

Nio Inc – (NYSE:NIO) shares rose 4.7% on Monday . The stock traded as high as $4.42 and last traded at $4.36. Approximately 50,208,693 shares traded hands during trading, an increase of 46% from the average daily volume of 34,501,576 shares. The stock had previously closed at $4.16.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of analyst reports. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. HSBC lowered NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Finally, Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Two research 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 company’s stock. According to data from MarketBeat.com, NIO presently has an average rating of “Hold” and an average target price of $5.71.

NIO Trading Down 4.0 %

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The business’s fifty day moving average is $4.49 and its 200 day moving average is $4.79.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in NIO in the 2nd quarter worth about $1,076,000. International Assets Investment Management LLC increased its stake in shares of NIO by 580.9% in the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after purchasing an additional 334,723 shares in the last quarter. Toronto Dominion Bank raised its position in shares of NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after purchasing an additional 132,237 shares during the period. FMR LLC lifted its stake in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in NIO in the 3rd quarter worth approximately $1,327,000. Hedge funds and other 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.