Nio Inc – (NYSE:NIO – Get Rating)’s share price was up 5.8% on Wednesday . The company traded as high as $10.62 and last traded at $10.59. Approximately 448,081 shares were traded during trading, a decline of 99% from the average daily volume of 71,835,312 shares. The stock had previously closed at $10.01.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on NIO shares. UBS Group downgraded shares of NIO from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $32.00 to $13.00 in a research report on Thursday, November 17th. Mizuho cut their price objective on shares of NIO from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, November 11th. Sanford C. Bernstein dropped their target price on shares of NIO from $25.00 to $15.00 in a research report on Thursday, November 10th. Citigroup lowered their target price on NIO from $41.10 to $31.30 and set a “buy” rating on the stock in a research note on Thursday, September 8th. Finally, Bank of America reduced their target price on NIO from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 11th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.96.
NIO Stock Up 5.5 %
The company has a current ratio of 1.59, a quick ratio of 1.42 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $12.93 and a 200-day moving average of $17.08.
Hedge Funds Weigh In On NIO
Large investors have recently made changes to their positions in the business. Activest Wealth Management lifted its holdings in NIO by 65.8% during the 2nd quarter. Activest Wealth Management now owns 1,406 shares of the company’s stock worth $31,000 after buying an additional 558 shares in the last quarter. Clearstead Advisors LLC increased its holdings in NIO by 557.0% during the 1st quarter. Clearstead Advisors LLC now owns 1,511 shares of the company’s stock worth $32,000 after purchasing an additional 1,281 shares in the last quarter. Tyler Stone Wealth Management increased its holdings in NIO by 174.2% during the 2nd quarter. Tyler Stone Wealth Management now owns 1,574 shares of the company’s stock worth $34,000 after purchasing an additional 1,000 shares in the last quarter. Strengthening Families & Communities LLC increased its holdings in NIO by 637.9% during the 3rd quarter. Strengthening Families & Communities LLC now owns 2,354 shares of the company’s stock worth $36,000 after purchasing an additional 2,035 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group grew its holdings in shares of NIO by 988.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 1,904 shares of the company’s stock valued at $41,000 after acquiring an additional 1,729 shares in the last quarter. Institutional investors and hedge funds own 31.52% of the company’s stock.
NIO Company Profile
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.
- Get a free copy of the StockNews.com research report on NIO (NIO)
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