NIO (NYSE:NIO) Stock Price Up 9.9% – Should You Buy?

Nio Inc – (NYSE:NIO) shares rose 9.9% on Tuesday . The company traded as high as $4.97 and last traded at $4.90. Approximately 50,873,836 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 54,351,028 shares. The stock had previously closed at $4.46.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NIO shares. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and reduced their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.30.

NIO Stock Up 17.2 %

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 50 day moving average price of $4.34 and a 200-day moving average price of $4.81. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of -3.46 and a beta of 1.81.

Hedge Funds Weigh In On NIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank increased its stake in shares of NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after purchasing an additional 132,237 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in NIO during the 4th quarter valued at $1,360,000. AlphaStar Capital Management LLC purchased a new position in NIO during the fourth quarter worth $537,000. FMR LLC raised its holdings in shares of NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after acquiring an additional 5,296,601 shares during the last quarter. Finally, Main Management ETF Advisors LLC purchased a new stake in shares of NIO in the third quarter valued at $1,327,000. 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.