Investors Buy High Volume of Call Options on NIO (NYSE:NIO)

Nio Inc – (NYSE:NIO) was the recipient of some unusual options trading on Monday. Investors purchased 294,778 call options on the company. This represents an increase of approximately 53% compared to the typical daily volume of 193,100 call options.

NIO Stock Down 7.8 %

NYSE NIO opened at $4.78 on Wednesday. The business’s fifty day simple moving average is $5.20 and its 200-day simple moving average is $4.84. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm has a market cap of $8.21 billion, a PE ratio of -3.16 and a beta of 1.77. NIO has a 52 week low of $3.61 and a 52 week high of $9.57.

Hedge Funds Weigh In On NIO

Institutional investors have recently bought and sold shares of the company. Garden State Investment Advisory Services LLC acquired a new stake in shares of NIO during the 3rd quarter worth approximately $374,000. Tidal Investments LLC raised its position in NIO by 2.4% in the third quarter. Tidal Investments LLC now owns 280,140 shares of the company’s stock valued at $1,871,000 after purchasing an additional 6,545 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of NIO by 63.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company’s stock valued at $553,000 after purchasing an additional 32,069 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of NIO by 1,652,962.5% in the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after purchasing an additional 132,237 shares during the last quarter. Finally, Main Management ETF Advisors LLC purchased a new position in shares of NIO during the 3rd quarter worth $1,327,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and dropped their price target for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Citigroup reduced their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Bank of America boosted their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and an average target price of $5.71.

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.