NIO (NYSE:NIO) Shares Up 5.3%
Nio Inc – (NYSE:NIO)’s share price shot up 5.3% on Tuesday . The company traded as high as $3.21 and last traded at $3.16, 16,686,271 shares changed hands during mid-day trading. A decline of 41% from the average session volume of 28,482,363 shares. The stock had previously closed at $3.00.
NIO has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of NIO from a “sell” rating to a “hold” rating in a report on Tuesday. UBS Group cut their price objective on shares of NIO from $7.00 to $5.50 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Finally, Bank of America downgraded shares of NIO from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $6.20 to $3.00 in a report on Tuesday, May 28th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. NIO has an average rating of “Hold” and a consensus price target of $7.27.
The company has a market cap of $3.12 billion and a price-to-earnings ratio of -0.31. The company has a current ratio of 1.49, a quick ratio of 1.34 and a debt-to-equity ratio of 3.73. The stock’s fifty day simple moving average is $3.27 and its 200 day simple moving average is $4.77.
Hedge funds have recently added to or reduced their stakes in the business. Sigma Planning Corp acquired a new stake in shares of NIO during the 2nd quarter worth approximately $27,000. World Asset Management Inc acquired a new stake in shares of NIO during the 2nd quarter worth approximately $28,000. Psagot Investment House Ltd. acquired a new stake in shares of NIO during the 1st quarter worth approximately $29,000. Aries Wealth Management acquired a new stake in shares of NIO during the 2nd quarter worth approximately $33,000. Finally, United Capital Financial Advisers LLC increased its holdings in shares of NIO by 32.5% during the 2nd quarter. United Capital Financial Advisers LLC now owns 13,922 shares of the company’s stock worth $36,000 after buying an additional 3,416 shares during the last quarter. Institutional investors own 31.30% of the company’s stock.
NIO Company Profile (NYSE: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.
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