Why Nio's Stock Is Trading Higher Today

Nio Inc - ADR NIO shares are trading higher on Wednesday.

JPMorgan upgraded the company's stock from Underweight to Neutral and raised its price target from $2 to $3.50.

Nio Inc operates in China's premium electric vehicle market. The company designs, jointly manufactures and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving and artificial intelligence. Its models include the EP9 supercar, ES8, ES6 and EC6.

Shares of Chinese electric automaker Nio shares were up 6.28% at $4.06 at the time of publication. The stock has a 52-week high of $5.65 and a 52-week low of $1.19.

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Photo courtesy of Nio.