NIO (NYSE:NIO) Shares Up 9.4% – Should You Buy?

Shares of Nio Inc – (NYSE:NIO) rose 9.4% during mid-day trading on Wednesday . The stock traded as high as $4.72 and last traded at $4.67. Approximately 49,689,398 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 46,398,512 shares. The stock had previously closed at $4.27.

Wall Street Analysts Forecast Growth

NIO has been the topic of a number of recent research reports. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and dropped their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and decreased 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, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NIO presently has an average rating of “Hold” and a consensus target price of $5.38.

NIO Trading Up 9.0 %

The company has a market cap of $9.72 billion, a PE ratio of -3.08 and a beta of 1.69. The business has a 50 day simple moving average of $4.34 and a two-hundred day simple moving average of $4.78. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Institutional Trading of NIO

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ballentine Partners LLC lifted its position in shares of NIO by 11.5% during the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after acquiring an additional 2,482 shares during the last quarter. PDS Planning Inc grew its holdings in NIO by 13.0% during the fourth quarter. PDS Planning Inc now owns 22,786 shares of the company’s stock valued at $99,000 after purchasing an additional 2,627 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in NIO by 25.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company’s stock worth $59,000 after buying an additional 2,712 shares during the period. Franklin Resources Inc. grew its position in NIO by 20.4% in the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock worth $72,000 after purchasing an additional 2,788 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its holdings in NIO by 24.1% in the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock valued at $61,000 after acquiring an additional 2,867 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.