NIO (NYSE:NIO) Trading Up 4.7% – Still a Buy?

Nio Inc – (NYSE:NIO) shares traded up 4.7% during mid-day trading on Monday . The company traded as high as $4.42 and last traded at $4.36. 50,208,693 shares were traded during trading, an increase of 46% from the average session volume of 34,501,576 shares. The stock had previously closed at $4.16.

Analyst Ratings Changes

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

NIO Price Performance

The firm has a fifty day simple moving average of $4.49 and a two-hundred day simple moving average of $4.79. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in NIO in the third quarter worth about $32,000. AE Wealth Management LLC purchased a new position in shares of NIO in the 2nd quarter valued at approximately $75,000. First Trust Direct Indexing L.P. purchased a new position in shares of NIO in the 3rd quarter valued at approximately $76,000. Apollon Wealth Management LLC purchased a new stake in NIO in the third quarter worth $78,000. Finally, DGS Capital Management LLC purchased a new stake in NIO in the fourth quarter worth $81,000. 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.