NIO (NYSE:NIO) Trading 3.4% Higher – Still a Buy?

Nio Inc – (NYSE:NIO)’s stock price rose 3.4% during mid-day trading on Tuesday . The company traded as high as $4.58 and last traded at $4.57. Approximately 16,345,402 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 56,726,723 shares. The stock had previously closed at $4.42.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NIO shares. Citigroup cut their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Wolfe Research initiated coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Daiwa America raised NIO to a “strong-buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and raised their target price for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Bank of America raised their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Up 1.9 %

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 business’s fifty day simple moving average is $4.94 and its two-hundred day simple moving average is $4.82. The company has a market cap of $7.56 billion, a PE ratio of -2.91 and a beta of 1.77.

Institutional Trading of NIO

Institutional investors have recently bought and sold shares of the business. FMR LLC increased its stake in shares of NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of NIO by 164.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after acquiring an additional 4,018,659 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of NIO in the 3rd quarter valued at approximately $4,879,000. Quadrature Capital Ltd grew its holdings in shares of NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after purchasing an additional 538,907 shares during the period. Finally, Krane Funds Advisors LLC lifted its stake in NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock worth $6,401,000 after purchasing an additional 370,556 shares in the last quarter. 48.55% of the stock is 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.