NIO (NYSE:NIO) Trading 3.9% Higher – Still a Buy?

Shares of Nio Inc – (NYSE:NIO) were up 3.9% during mid-day trading on Tuesday . The company traded as high as $4.48 and last traded at $4.45. Approximately 18,744,673 shares traded hands during trading, a decline of 55% from the average daily volume of 41,645,605 shares. The stock had previously closed at $4.28.

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $7.00 to $4.70 in a research note on Tuesday. Finally, HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.38.

NIO Price Performance

The firm has a 50 day moving average price of $4.43 and a 200 day moving average price of $4.76. The stock has a market cap of $9.13 billion, a P/E ratio of -2.90 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NIO. Blue Trust Inc. boosted its holdings in shares of NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after purchasing an additional 3,607 shares during the period. Allspring Global Investments Holdings LLC bought a new position in NIO during the third quarter valued at $32,000. Trilogy Capital Inc. purchased a new stake in shares of NIO in the fourth quarter valued at $45,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of NIO in the 4th quarter worth about $53,000. Finally, ABC Arbitrage SA purchased a new position in shares of NIO during the 4th quarter worth about $55,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.