NIO (NYSE:NIO) Stock Price Up 1.1% - Here's Why

Nio Inc. (NYSE:NIO) saw its stock price rise by 1.1% on Thursday. The stock reached a high of $4.30 before closing at $4.25. During the trading session, about 14,334,572 shares were exchanged, which is a significant drop of 65% compared to the average daily volume of 41,372,059 shares. In the previous trading session, the stock had closed at $4.20.

Analysis from Wall Street Analysts

Various analysts have recently commented on NIO’s stock performance. For instance, Goldman Sachs downgraded NIO from a "neutral" to a "sell" rating, reducing their price target from $4.80 to $3.90. Macquarie also adjusted their rating from "outperform" to "neutral" with a new price target of $4.80, down from $6.60. Similarly, JPMorgan Chase lowered its rating from "overweight" to "neutral" with an adjusted price objective of $4.70, down from $7.00. Furthermore, HSBC Global Research downgraded NIO from a "strong-buy" to a "hold" rating.

Currently, the ratings on NIO stock are as follows: two analysts rate it as a "sell," ten as a "hold," one as a "buy," and another as a "strong buy." MarketBeat.com reports that the consensus rating for NIO is a "Hold" with an average target price of $5.38.

NIO Stock Performance

The 50-day simple moving average for NIO stands at $4.42, while the 200-day simple moving average is at $4.75. The company's market capitalization is approximately $8.84 billion, with a P/E ratio of -2.80 and a beta of 1.68. NIO's current ratio is 1.04, its quick ratio is 0.93, and it has a debt-to-equity ratio of 0.98.

Institutional Investor Activity

Institutional investors and hedge funds have been making adjustments to their positions in NIO. International Assets Investment Management LLC significantly increased its ownership by 580.9% during the third quarter, now holding 392,343 shares valued at around $2.62 million after buying an additional 334,723 shares. Toronto Dominion Bank's stake skyrocketed by 1,652,962.5% in the same quarter, bringing its total to 132,245 shares worth approximately $883,000.

In another move, FMR LLC raised its share count in NIO by 5,388.5% during the third quarter, now owning 5,394,895 shares valued at $36.04 million following a purchase of 5,296,601 additional shares. New stakeholders like Main Management ETF Advisors LLC also entered the game, purchasing shares worth $1.33 million. Signaturefd LLC increased its stake by 16.9%, now owning 48,604 shares valued at $325,000. Overall, institutional investors hold about 48.55% of NIO shares.

Overview of NIO Inc.

NIO Inc. is a company focused on the design, manufacture, and sale of electric vehicles primarily in China. The company is also involved in various activities including producing e-powertrains, battery packs, components, and offering management and technology solutions related to racing as well as battery charging services.

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