The NIO stock price fluctuated between $41.64 and $43.3 throughout the trading session with the volume trading being 46M 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) ran up 1.86% to close Friday’s market session at $42.62, higher as compared to yesterday’s close which brings the market valuation of the company to $69.83B.
The 52-week high for the NIO Inc.’s shares is $66.99. That puts it -36.38% from that peak but still a good gain since the share price dropped to a 52-week low of $11.73, while the S&P 500’s share price change was of 35.10%.
What does the trading volume tell us about the NIO stock?
During the last trading session, NIO Inc. (NYSE:NIO) has seen decay in its daily volume. The daily volume was of 66M, while in the last 10 days the average was 57.54M and last three months – 66.03M.
The decreasing interest in the NIO stock from the investors is helping to drive the stock price down.
Shrinking short interest
The NIO Inc.’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 70.58M shares being shorted which translates into 0.98 of a short ratio for NIO, while in the previous month the shorted shares were 73.5M.
NIO Inc. (NYSE:NIO) financials
With a market cap of 69.83B, 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 an increase 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 great sign for a bright future.