NIO (NYSE:NIO) Shares Up 1.1% – Still a Buy?

Nio Inc – (NYSE:NIO)’s stock price was up 1.1% during mid-day trading on Thursday . The stock traded as high as $4.30 and last traded at $4.25. Approximately 14,334,572 shares were traded during trading, a decline of 65% from the average daily volume of 41,372,059 shares. The stock had previously closed at $4.20.

Analysts Set New Price Targets

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

NIO Trading Up 0.4 %

The stock’s fifty day simple moving average is $4.43 and its two-hundred day simple moving average is $4.76. The firm has a market cap of $8.80 billion, a PE ratio of -2.79 and a beta of 1.69. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Trading of NIO

Several hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in NIO during the 3rd quarter valued at $4,879,000. SG Americas Securities LLC lifted its position in NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after buying an additional 589,082 shares during the last quarter. Quadrature Capital Ltd increased its position in NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after acquiring an additional 538,907 shares during the last quarter. Finally, XY Capital Ltd purchased a new position in shares of NIO during the 4th quarter worth about $1,544,000. 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.