NIO (NYSE:NIO) Shares Up 4.6% – Time to Buy?

Nio Inc – (NYSE:NIO)’s stock price traded up 4.6% during mid-day trading on Wednesday . The company traded as high as $4.41 and last traded at $4.42. 14,075,291 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 54,403,403 shares. The stock had previously closed at $4.22.

Analyst Ratings Changes

Several analysts recently issued reports on NIO shares. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and reduced their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NIO has an average rating of “Hold” and a consensus target price of $5.32.

NIO Stock Performance

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 firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of -2.95 and a beta of 1.81. The stock’s 50-day moving average is $4.33 and its 200-day moving average is $4.79.

Institutional Investors Weigh In On NIO

A number of hedge funds and other institutional investors have recently bought and sold shares of NIO. Blue Trust Inc. raised its stake in shares of NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after acquiring an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp increased its stake in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after purchasing an additional 4,332 shares in the last quarter. Sava Infond d.o.o. bought a new position in shares of NIO in the 4th quarter worth $44,000. Callan Family Office LLC bought a new stake in NIO during the 4th quarter worth approximately $44,000. Finally, Trilogy Capital Inc. bought a new position in shares of NIO during the fourth quarter valued at about $45,000. Institutional investors own 48.55% of the company’s stock.

NIO Company Profile

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.