Nio Inc – (NYSE:NIO – Get Free Report) was the target of unusually large options trading on Tuesday. Investors purchased 201,252 call options on the stock. This is an increase of 26% compared to the typical volume of 159,280 call options.

NIO Stock Up 2.5 %

Shares of NIO traded up $0.18 during mid-day trading on Tuesday, hitting $7.50. 73,908,727 shares of the company traded hands, compared to its average volume of 50,178,883. NIO has a 1-year low of $7.00 and a 1-year high of $16.18. The company has a quick ratio of 0.82, a current ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $12.89 billion, a PE ratio of -4.31 and a beta of 2.00. The business has a 50 day moving average of $7.91 and a 200 day moving average of $9.47.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price on NIO from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, September 6th. CLSA cut their target price on NIO from $18.00 to $14.00 in a research note on Thursday, August 31st. JPMorgan Chase & Co. upped their price objective on NIO from $9.00 to $10.50 and gave the company a “neutral” rating in a research note on Wednesday, August 30th. Sanford C. Bernstein decreased their price target on shares of NIO from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Wednesday, August 30th. Finally, Mizuho cut their target price on shares of NIO from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, August 30th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NIO presently has an average rating of “Hold” and an average target price of $12.80.

Check Out Our Latest Stock Analysis on NIO

Institutional Investors Weigh In On NIO

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of NIO during the 4th quarter worth about $155,344,000. Two Sigma Investments LP purchased a new stake in NIO during the first quarter worth approximately $71,533,000. Renaissance Technologies LLC lifted its stake in NIO by 2,377.8% during the first quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock worth $113,704,000 after purchasing an additional 5,183,600 shares during the last quarter. BlackRock Inc. lifted its stake in NIO by 7.8% in the second quarter. BlackRock Inc. now owns 66,794,714 shares of the company’s stock valued at $647,241,000 after buying an additional 4,835,232 shares during the last quarter. Finally, Electron Capital Partners LLC purchased a new stake in NIO in the third quarter valued at approximately $37,918,000. Institutional investors and hedge funds own 42.32% of the company’s stock.

NIO Company Profile (Get Free Report)

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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Original: MarketBeat News Feed: NIO Target of Unusually Large Options Trading (NYSE:NIO)