Nio Inc – (NYSE:NIO – Get Rating)’s share price rose 10% on Tuesday . The stock traded as high as $23.09 and last traded at $22.85. Approximately 2,141,780 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 68,230,512 shares. The stock had previously closed at $20.77.
NIO has been the topic of several research analyst reports. Bank of America raised shares of NIO from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Monday, May 16th. began coverage on shares of NIO in a research report on Thursday, March 24th. They set a “buy” rating and a $32.40 target price on the stock. Citigroup reduced their price target on shares of NIO from $87.00 to $41.10 and set a “buy” rating on the stock in a research report on Tuesday. Mizuho reduced their price target on shares of NIO from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, June 10th. Finally, Morgan Stanley cut their target price on shares of NIO from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, June 10th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.91.
The company has a market cap of $37.64 billion, a PE ratio of -30.47 and a beta of 2.46. The stock’s 50 day moving average price is $17.37 and its 200-day moving average price is $22.37. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.93 and a current ratio of 2.02.
A number of large investors have recently bought and sold shares of the stock. J.W. Cole Advisors Inc. bought a new stake in NIO during the 1st quarter valued at $46,000. Bank of America Corp DE raised its holdings in NIO by 34.4% in the 1st quarter. Bank of America Corp DE now owns 3,427,141 shares of the company’s stock worth $72,141,000 after purchasing an additional 877,650 shares in the last quarter. Garde Capital Inc. raised its holdings in NIO by 19.6% in the 1st quarter. Garde Capital Inc. now owns 6,676 shares of the company’s stock worth $141,000 after purchasing an additional 1,096 shares in the last quarter. Advisory Services Network LLC raised its holdings in NIO by 14.0% in the 1st quarter. Advisory Services Network LLC now owns 30,490 shares of the company’s stock worth $642,000 after purchasing an additional 3,751 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in NIO by 2.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 238,000 shares of the company’s stock worth $5,010,000 after purchasing an additional 4,900 shares in the last quarter. Institutional investors own 42.98% 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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