NIO (NYSE:NIO) Shares Up 0.1% – Should You Buy?

Nio Inc – (NYSE:NIO)’s share price shot up 0.1% during trading on Wednesday . The company traded as high as $4.34 and last traded at $4.33. 8,980,222 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 40,750,863 shares. The stock had previously closed at $4.32.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NIO shares. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and cut their price objective for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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 stock has a 50 day simple moving average of $4.46 and a two-hundred day simple moving average of $4.77. The company has a market cap of $7.36 billion, a price-to-earnings ratio of -2.80 and a beta of 1.70.

Institutional Trading of NIO

Hedge funds and other institutional investors have recently modified their holdings of the business. Ballentine Partners LLC raised its position in NIO by 11.5% during the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after acquiring an additional 2,482 shares in the last quarter. Atomi Financial Group Inc. increased its stake in shares of NIO by 15.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after purchasing an additional 2,588 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of NIO by 24.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock valued at $61,000 after purchasing an additional 2,867 shares in the last quarter. BSW Wealth Partners lifted its stake in shares of NIO by 21.4% in the 4th quarter. BSW Wealth Partners now owns 20,423 shares of the company’s stock valued at $89,000 after purchasing an additional 3,606 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after purchasing an additional 3,607 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.