NIO (NYSE:NIO) Trading 2.8% Higher – Time to Buy?

Nio Inc – (NYSE:NIO) shares traded up 2.8% on Thursday . The stock traded as high as $4.83 and last traded at $4.75. 15,049,609 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 56,189,086 shares. The stock had previously closed at $4.62.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NIO shares. Wolfe Research assumed coverage on NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Citigroup dropped their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Bank of America raised their target price on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.71.

NIO Stock Performance

The stock has a market cap of $7.70 billion, a price-to-earnings ratio of -2.97 and a beta of 1.77. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock’s 50-day moving average is $4.80 and its 200-day moving average is $4.80.

Institutional Investors Weigh In On NIO

Several large investors have recently made changes to their positions in NIO. Allspring Global Investments Holdings LLC purchased a new stake in NIO during the 3rd quarter worth $32,000. First Trust Direct Indexing L.P. purchased a new stake in NIO during the 3rd quarter worth $76,000. Apollon Wealth Management LLC acquired a new position in NIO in the 3rd quarter worth $78,000. Sivia Capital Partners LLC purchased a new position in NIO in the 3rd quarter valued at about $92,000. Finally, Avior Wealth Management LLC grew its stake in shares of NIO by 106.1% during the third quarter. Avior Wealth Management LLC now owns 14,588 shares of the company’s stock valued at $97,000 after acquiring an additional 7,510 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

About NIO

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. 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. In addition, it offers power solutions for battery charging needs; and other value-added services.