NIO (NYSE:NIO) Trading Up 0.6% – Still a Buy?

Nio Inc – (NYSE:NIO) rose 0.6% during mid-day trading on Thursday . The stock traded as high as $4.29 and last traded at $4.24. Approximately 20,817,279 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 42,744,117 shares. The stock had previously closed at $4.21.

Analyst Ratings Changes

Several analysts have recently commented on NIO shares. Hsbc Global Res lowered shares of 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 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, February 4th. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Finally, Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. 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 stock. Based on data from MarketBeat, NIO currently has a consensus rating of “Hold” and a consensus target price of $5.38.

NIO Stock Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The company has a market cap of $9.26 billion, a price-to-earnings ratio of -2.94 and a beta of 1.68. The stock’s fifty day simple moving average is $4.39 and its two-hundred day simple moving average is $4.75.

Hedge Funds Weigh In On NIO

A number of large investors have recently modified their holdings of NIO. Blue Trust Inc. increased its position in NIO by 138.5% during 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 in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of NIO in the third quarter worth $32,000. Jones Financial Companies Lllp increased its position in shares of NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after acquiring an additional 4,332 shares in the last quarter. Callan Family Office LLC acquired a new position in shares of NIO during the 4th quarter valued at $44,000. Finally, Sava Infond d.o.o. purchased a new stake in NIO during the 4th quarter worth $44,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.