NIO (NYSE:NIO) Shares Gap Up - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report)'s share price 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.

Analysts Set New Price Targets

NIO has been the subject of several recent research reports. Macquarie downgraded NIO from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. HSBC downgraded NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. The Goldman Sachs Group downgraded NIO from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Finally, Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $5.03.

NIO Stock Performance

The stock has a 50 day simple moving average of $4.38 and a 200 day simple moving average of $4.83. The company has a market cap of $10.20 billion, a price-to-earnings ratio of -3.24 and a beta of 1.81. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. FMR LLC lifted its stake in shares of 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 acquiring an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd increased its holdings in NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock valued at $14,756,000 after buying an additional 538,907 shares during the last quarter. Bridgewater Associates LP increased its holdings in NIO by 28.6% in the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock valued at $5,170,000 after buying an additional 263,338 shares during the last quarter. SG Americas Securities LLC increased its holdings in NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock valued at $5,018,000 after buying an additional 589,082 shares during the last quarter. Finally, Swedbank AB increased its holdings in NIO by 0.8% in the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company's stock valued at $4,657,000 after buying an additional 9,000 shares during the last quarter. Institutional investors and hedge funds 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.