Nio Inc – (NYSE:NIO) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 35,040,227 shares, an increase of 9.0% from the October 15th total of 32,132,954 shares. Based on an average daily volume of 13,550,049 shares, the days-to-cover ratio is presently 2.6 days.

NYSE NIO opened at $6.78 on Wednesday. The company has a quick ratio of 2.28, a current ratio of 2.56 and a debt-to-equity ratio of 0.12. NIO has a 12-month low of $5.35 and a 12-month high of $13.80.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nwam LLC acquired a new stake in NIO in the third quarter valued at approximately $230,000. Bank of New York Mellon Corp acquired a new stake in NIO in the third quarter valued at approximately $8,743,000. Wells Fargo & Company MN acquired a new stake in NIO in the third quarter valued at approximately $219,000. People s United Financial Inc. acquired a new stake in NIO in the third quarter valued at approximately $176,000. Finally, MML Investors Services LLC acquired a new stake in NIO in the third quarter valued at approximately $266,000. Hedge funds and other institutional investors own 0.04% of the company’s stock.

Several research firms recently commented on NIO. Goldman Sachs Group began coverage on shares of NIO in a report on Monday, October 8th. They set a “neutral” rating and a $7.00 price target for the company. Morgan Stanley began coverage on shares of NIO in a research note on Monday, October 8th. They issued a “buy” rating and a $9.00 target price for the company. Sanford C. Bernstein began coverage on shares of NIO in a research note on Thursday, September 13th. They issued an “underperform” rating and a $4.20 target price for the company. Wolfe Research began coverage on shares of NIO in a research note on Monday, October 8th. They issued an “outperform” rating and a $8.00 target price for the company. Finally, Deutsche Bank began coverage on shares of NIO in a research note on Monday, October 8th. They issued a “buy” rating and a $10.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. NIO has a consensus rating of “Hold” and a consensus price target of $8.47.

COPYRIGHT VIOLATION WARNING: This piece of content was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2018/11/14/short-interest-in-nio-inc-nio-rises-by-9-0.html.

NIO Company Profile

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China, the United States, Germany, and the United Kingdom. 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.

Read More: Ex-Dividend

Receive News & Ratings for NIO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIO and related companies with MarketBeat.com's FREE daily email newsletter.