The NIO stock price fluctuated between $41.93 and $44.88 throughout the trading session with the volume trading being 54M shares, which represented a negative variation when compared to the three months average volume of 66M shares.
The share price of NIO Inc. (NYSE:NIO) dipped -1.86% to close Monday’s market session at $43.17, lower as compared to yesterday’s close which brings the market valuation of the company to $70.73B.
The 52-week high for the NIO Inc.’s shares is $66.99. That puts it -35.56% from that peak but still a 276.30% gain since the share price dropped to a 52-week low of $11.27, while the S&P 500’s share price change was of 36.19%.
What does the trading volume tell us about the NIO stock?
During the last trading session, NIO Inc. (NYSE:NIO) has seen growth in its daily volume. The daily volume was of 66M, while in the last 10 days the average was 50.21M and last three months – 66.28M.
The increasing interest in the NIO stock from the investors is helping to drive the stock price up.
Shrinking short interest
The NIO Inc.’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 62.35M shares being shorted which translates into 1.05 of a short ratio for NIO, while in the previous month the shorted shares were 70.58M.
NIO Inc. (NYSE:NIO) financials
With a market cap of 70.73B, NIO Inc. holds a total cash of $47.23B that translates into $30.43 per share, while the total debt is of $15.36B.
The company has seen a decrease in the revenue with a year-over-year quarterly revenue growth percentage of 481.80%. The current revenue is of $22.87B that is $17.44 per share.
This is a fantastic sign for the future.