Short Interest in Nio Inc – (NIO) Increases By 24.8%
Nio Inc – (NYSE:NIO) was the recipient of a large increase in short interest in the month of March. As of March 29th, there was short interest totalling 84,498,622 shares, an increase of 24.8% from the March 15th total of 67,686,671 shares. Currently, 11.5% of the company’s stock are short sold. Based on an average daily trading volume, of 41,540,126 shares, the short-interest ratio is currently 2.0 days.
NYSE NIO opened at $4.99 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.42 and a debt-to-equity ratio of 0.17. NIO has a 52 week low of $4.90 and a 52 week high of $13.80. The company has a market cap of $5.14 billion and a price-to-earnings ratio of -0.49.
Several equities research analysts recently weighed in on NIO shares. Zacks Investment Research downgraded shares of NIO from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. Deutsche Bank set a $9.00 target price on shares of NIO and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. 86 Research started coverage on shares of NIO in a research note on Tuesday, January 15th. They set a “sell” rating and a $4.70 target price on the stock. Citigroup raised shares of NIO from a “neutral” rating to a “buy” rating and cut their target price for the stock from $7.20 to $6.80 in a research note on Thursday, April 4th. Finally, Bank of America raised shares of NIO from an “underperform” rating to a “neutral” rating and cut their target price for the stock from $6.80 to $6.20 in a research note on Thursday, April 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. NIO presently has a consensus rating of “Hold” and a consensus target price of $8.02.
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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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