Short Interest in Nio Inc – (NIO) Increases By 498.4%

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Nio Inc – (NYSE:NIO) was the target of a large increase in short interest during the month of September. As of September 28th, there was short interest totalling 18,307,685 shares, an increase of 498.4% from the September 14th total of 3,059,249 shares. Based on an average daily trading volume, of 28,677,619 shares, the days-to-cover ratio is currently 0.6 days.

NIO stock opened at $7.46 on Friday. NIO has a 12 month low of $5.35 and a 12 month high of $13.80.

An institutional investor recently bought a new position in NIO stock. Nwam LLC bought a new stake in Nio Inc – (NYSE:NIO) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 32,985 shares of the company’s stock, valued at approximately $230,000.

Several brokerages recently weighed in on NIO. Goldman Sachs Group began coverage on NIO in a research report on Monday, October 8th. They set a “neutral” rating and a $7.00 price objective for the company. Morgan Stanley began coverage on NIO in a research report on Monday, October 8th. They set a “buy” rating and a $9.00 price objective for the company. Deutsche Bank began coverage on NIO in a research report on Monday, October 8th. They set a “buy” rating and a $10.00 price objective for the company. Wolfe Research began coverage on NIO in a research report on Monday, October 8th. They set an “outperform” rating and a $8.00 price objective for the company. Finally, JPMorgan Chase & Co. began coverage on NIO in a research report on Tuesday, October 9th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. NIO currently has a consensus rating of “Hold” and a consensus price target of $7.64.

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.

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