NIO (NYSE:NIO) Stock Price Up 6.2% – Should You Buy?

Nio Inc – (NYSE:NIO) shares rose 6.2% on Thursday . The company traded as high as $5.13 and last traded at $5.01. Approximately 63,389,759 shares were traded during mid-day trading, an increase of 31% from the average daily volume of 48,376,867 shares. The stock had previously closed at $4.72.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NIO. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and cut their price objective 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. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and cut their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.38.

NIO Trading Up 1.6 %

The stock’s 50 day moving average is $4.35 and its 200-day moving average is $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. The company has a market cap of $10.01 billion, a P/E ratio of -3.18 and a beta of 1.69.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Shufro Rose & Co. LLC bought a new position in shares of NIO in the fourth quarter worth about $65,000. Vident Advisory LLC boosted its holdings in NIO by 60.6% during the 4th quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock valued at $235,000 after acquiring an additional 20,349 shares during the period. Vienna Asset Management LLC bought a new stake in shares of NIO during the fourth quarter worth $100,000. Laird Norton Wetherby Trust Company LLC purchased a new stake in shares of NIO during the fourth quarter valued at $93,000. Finally, Laird Norton Wetherby Wealth Management LLC increased its stake in NIO by 15.1% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock worth $290,000 after buying an additional 8,746 shares during the period. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.