Nio Inc – (NYSE:NIO) rose 5.3% on Tuesday . The company traded as high as $3.21 and last traded at $3.16, approximately 16,686,271 shares traded hands during trading. A decline of 41% from the average daily volume of 28,482,363 shares. The stock had previously closed at $3.00.
NIO has been the topic of a number of recent research reports. UBS Group decreased their price objective on NIO from $7.00 to $5.50 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Bank of America downgraded NIO from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $6.20 to $3.00 in a report on Tuesday, May 28th. Finally, Zacks Investment Research raised NIO from a “sell” rating to a “hold” rating in a report on Tuesday. 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 stock. The stock has an average rating of “Hold” and a consensus target price of $7.27.
The firm has a market capitalization of $3.13 billion and a price-to-earnings ratio of -0.30. 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 firm has a fifty day moving average price of $3.28 and a 200 day moving average price of $4.75.
Several institutional investors and hedge funds have recently made changes to their positions in NIO. Bank of America Corp DE boosted its stake in shares of NIO by 930.1% in the 4th quarter. Bank of America Corp DE now owns 167,144 shares of the company’s stock valued at $1,065,000 after buying an additional 150,918 shares during the period. Virtu Financial LLC purchased a new position in shares of NIO in the 1st quarter valued at about $258,000. Wedbush Securities Inc. purchased a new position in shares of NIO in the 1st quarter valued at about $86,000. BNP Paribas Arbitrage SA purchased a new position in shares of NIO in the 1st quarter valued at about $5,391,000. Finally, K.J. Harrison & Partners Inc purchased a new position in shares of NIO in the 1st quarter valued at about $178,000. 31.30% of the stock is currently owned by institutional investors and hedge funds.
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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