NIO (NYSE:NIO) Stock Price Up 0.1% – Here’s Why

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group lowered shares of 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 report on Monday, November 25th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has assigned 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 target price of $5.71.

NIO Trading Down 3.0 %

The firm has a 50-day simple moving average of $4.45 and a 200-day simple moving average of $4.77. 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 stock has a market cap of $8.99 billion, a PE ratio of -2.85 and a beta of 1.70.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NIO. Allspring Global Investments Holdings LLC purchased a new stake in shares of NIO in the third quarter worth about $32,000. Blue Trust Inc. lifted its stake 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. bought a new position in NIO in the 4th quarter valued at $45,000. First Trust Direct Indexing L.P. purchased a new position in shares of NIO during the 3rd quarter valued at $76,000. Finally, Apollon Wealth Management LLC bought a new position in shares of NIO in the third quarter worth $78,000. 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.