NIO (NYSE:NIO) Trading 4.6% Higher – Should You Buy?

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NIO shares. Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. HSBC cut NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and decreased their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Finally, Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. 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 stock. Based on data from MarketBeat, NIO has an average rating of “Hold” and a consensus target price of $5.38.

NIO Price Performance

The company has a market cap of $9.13 billion, a PE ratio of -2.90 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock’s 50-day moving average is $4.35 and its 200 day moving average is $4.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Toronto Dominion Bank raised its holdings in shares of NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after buying an additional 132,237 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of NIO in the 4th quarter valued at $1,360,000. AlphaStar Capital Management LLC purchased a new position in NIO in the 4th quarter worth $537,000. FMR LLC lifted its position in NIO by 5,388.5% during the 3rd 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 period. Finally, Main Management ETF Advisors LLC purchased a new stake in NIO during the 3rd quarter valued at about $1,327,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.