Nio Inc - (NYSE:NIO - Get Free Report) shares were up 1.7% during trading on Wednesday . The company traded as high as $4.52 and last traded at $4.44. Approximately 18,425,814 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 43,335,148 shares. The stock had previously closed at $4.36.
Wall Street Analyst Weigh In
A number of analysts have commented on NIO shares. Macquarie cut NIO from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Hsbc Global Res cut NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. HSBC cut NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group cut NIO from a "neutral" rating to a "sell" rating and cut their target price for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NIO presently has a consensus rating of "Hold" and a consensus target price of $5.38.
Check Out Our Latest Stock Report on NIO
NIO Price Performance
The firm has a market cap of $9.28 billion, a PE ratio of -2.94 and a beta of 1.68. The firm has a fifty day simple moving average of $4.35 and a two-hundred day simple moving average of $4.76. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.
Hedge Funds Weigh In On NIO
Several institutional investors have recently added to or reduced their stakes in NIO. Creative Planning grew its holdings in NIO by 8.3% during the 3rd quarter. Creative Planning now owns 290,558 shares of the company's stock valued at $1,941,000 after buying an additional 22,240 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of NIO in the 3rd quarter valued at approximately $32,000. Signaturefd LLC lifted its stake in shares of NIO by 16.9% in the 3rd quarter. Signaturefd LLC now owns 48,604 shares of the company's stock valued at $325,000 after purchasing an additional 7,014 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of NIO by 22.6% in the 3rd quarter. Private Advisor Group LLC now owns 84,032 shares of the company's stock valued at $561,000 after purchasing an additional 15,509 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of NIO by 580.9% in the 3rd quarter. International Assets Investment Management LLC now owns 392,343 shares of the company's stock valued at $2,621,000 after purchasing an additional 334,723 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.
NIO Company Profile
(
Get Free Report)
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.
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