
NIO (NYSE:NIO) Trading Up 2.1% - Here's Why

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NIO Inc. (NYSE:NIO) shares rose 2.1% to $4.77 during mid-day trading, with a trading volume increase of 6%. Analysts have mixed ratings on the stock, with Macquarie upgrading it to "outperform" with a $6.10 target, while Goldman Sachs maintains a "neutral" rating at $7.00. Citigroup lowered its target from $8.60 to $6.90, and Weiss Ratings issued a "sell" rating. Institutional investors hold 48.55% of NIO's stock, which has a market cap of $9.96 billion and a negative P/E ratio of -3.29. The average analyst rating is "Hold" with a target price of $6.83.
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