NIO (NYSE:NIO) Stock Price Up 2.8% – Should You Buy?

Nio Inc – (NYSE:NIO) rose 2.8% on Friday . The stock traded as high as $4.22 and last traded at $4.25. Approximately 8,078,009 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 40,244,711 shares. The stock had previously closed at $4.13.

Wall Street Analyst Weigh In

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

NIO Stock Performance

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a market cap of $7.36 billion, a P/E ratio of -2.82 and a beta of 1.70. The firm’s 50-day moving average is $4.49 and its two-hundred day moving average is $4.78.

Institutional Trading of NIO

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of NIO during the 3rd quarter worth $32,000. Blue Trust Inc. raised its stake in shares of NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after buying an additional 3,607 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new position in shares of NIO in the 3rd quarter valued at $76,000. Apollon Wealth Management LLC acquired a new stake in shares of NIO during the 3rd quarter worth about $78,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new stake in shares of NIO during the 4th quarter worth about $53,000. 48.55% of the stock is owned by 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.