NIO (NYSE:NIO) Trading 1.5% Higher – Should You Buy?

Nio Inc – (NYSE:NIO) was up 1.5% on Monday . The stock traded as high as $4.35 and last traded at $4.31. Approximately 15,735,825 shares changed hands during trading, a decline of 62% from the average daily volume of 40,920,641 shares. The stock had previously closed at $4.24.

Analysts Set New Price Targets

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

NIO Stock Performance

The firm has a 50 day moving average price of $4.40 and a 200 day moving average price of $4.75. The stock has a market cap of $8.79 billion, a PE ratio of -2.79 and a beta of 1.68. 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 Investors Weigh In On NIO

Large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in NIO by 10.7% in the second quarter. The Manufacturers Life Insurance Company now owns 181,043 shares of the company’s stock worth $753,000 after buying an additional 17,467 shares in the last quarter. Truist Financial Corp increased its holdings in shares of NIO by 32.2% in the 2nd quarter. Truist Financial Corp now owns 25,253 shares of the company’s stock valued at $105,000 after acquiring an additional 6,150 shares during the period. Sanctuary Advisors LLC bought a new position in shares of NIO in the 2nd quarter worth $228,000. Atomi Financial Group Inc. raised its position in shares of NIO by 15.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after acquiring an additional 2,588 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in shares of NIO during the 3rd quarter worth $92,000. Institutional investors 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.