NIO (NYSE:NIO) Trading Up 0.4% – Still a Buy?

Nio Inc – (NYSE:NIO) shares were up 0.4% on Tuesday . The stock traded as high as $4.30 and last traded at $4.29. Approximately 11,883,104 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 41,037,113 shares. The stock had previously closed at $4.27.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NIO. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and reduced their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. HSBC cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.71.

NIO Price Performance

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 firm has a market capitalization of $7.36 billion, a PE ratio of -2.86 and a beta of 1.70. The business’s 50 day moving average is $4.47 and its two-hundred day moving average is $4.78.

Institutional Investors Weigh In On NIO

Large investors have recently added to or reduced their stakes in the company. FMR LLC increased its position 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. Quadrature Capital Ltd boosted its stake in NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after buying an additional 538,907 shares in the last quarter. SG Americas Securities LLC grew its position in NIO by 104.8% during the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock valued at $5,018,000 after acquiring an additional 589,082 shares during the last quarter. Swedbank AB raised its stake in shares of NIO by 0.8% during the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock worth $4,657,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of NIO in the 3rd quarter worth approximately $4,879,000. Hedge funds and other 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.