The NIO stock price fluctuated between $43.73 and $45.48 throughout the trading session with the volume trading being 30M shares, which represented a negative variation when compared to the three months average volume of 63M shares.
The share price of NIO Inc. (NYSE:NIO) ran up 3.12% to close Monday’s market session at $45.21, higher as compared to yesterday’s close which brings the market valuation of the company to $71.83B.
The 52-week high for the NIO Inc.’s shares is $66.99. That puts it -32.51% from that peak but still a N/A gain since the share price dropped to a 52-week low of $12.54, while the S&P 500’s share price change was of 33%.
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 63M, while in the last 10 days the average was 47.9M and last three months – 63.01M.
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 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.’s (NYSE:NIO) financials
With a market cap of 71.83B, 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.