NIO (NYSE:NIO) Trading Up 6.2% – Still a Buy?

Nio Inc – (NYSE:NIO)’s share price traded up 6.2% during trading on Thursday . The company traded as high as $5.13 and last traded at $5.01. 63,389,759 shares changed hands during mid-day trading, an increase of 31% from the average session volume of 48,376,867 shares. The stock had previously closed at $4.72.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. HSBC lowered NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. 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 investment analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.38.

NIO Stock Down 3.4 %

The stock has a 50-day simple moving average of $4.36 and a two-hundred day simple moving average of $4.78. 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 firm has a market cap of $9.65 billion, a PE ratio of -3.06 and a beta of 1.68.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NIO. Blue Trust Inc. increased its holdings in shares of 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 buying an additional 3,607 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of NIO in the third quarter worth about $32,000. Jones Financial Companies Lllp increased its holdings 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 buying an additional 4,332 shares during the period. Callan Family Office LLC purchased a new position in shares of NIO in the fourth quarter worth about $44,000. Finally, Sava Infond d.o.o. purchased a new position in shares of NIO in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.