NIO (NYSE:NIO) Trading Up 0.1% – What’s Next?

Nio Inc – (NYSE:NIO)’s stock price shot up 0.1% during mid-day trading on Wednesday . The company traded as high as $4.34 and last traded at $4.33. 8,980,222 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 40,750,863 shares. The stock had previously closed at $4.32.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. 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 cut their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, NIO currently has an average rating of “Hold” and an average price target of $5.71.

NIO Stock Down 2.2 %

The company has a fifty day moving average price of $4.46 and a 200 day moving average price of $4.77. The company has a market cap of $7.36 billion, a PE ratio of -2.80 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.

Institutional Investors Weigh In On NIO

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in NIO in the third quarter worth $32,000. Blue Trust Inc. raised its holdings in NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after purchasing an additional 3,607 shares in the last quarter. Trilogy Capital Inc. purchased a new stake in shares of NIO in the 4th quarter worth about $45,000. First Trust Direct Indexing L.P. bought a new stake in shares of NIO during the 3rd quarter valued at about $76,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of NIO during the third quarter valued at about $78,000. 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.