NIO (NYSE:NIO) Trading Up 3.4% – Still a Buy?

Nio Inc – (NYSE:NIO)’s stock price was up 3.4% on Friday . The company traded as high as $4.49 and last traded at $4.39. Approximately 19,763,161 shares traded hands during trading, a decline of 63% from the average daily volume of 54,104,266 shares. The stock had previously closed at $4.24.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NIO. HSBC cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and cut their price target for the company from $4.80 to $3.90 in a report on Monday, November 25th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NIO presently has a consensus rating of “Hold” and an average price target of $5.32.

NIO Stock Up 4.8 %

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 firm has a market capitalization of $9.28 billion, a P/E ratio of -2.94 and a beta of 1.81. The firm’s 50-day moving average is $4.33 and its 200 day moving average is $4.79.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd raised its position in shares of NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after buying an additional 538,907 shares in the last quarter. Bridgewater Associates LP lifted its holdings in shares of NIO by 28.6% during the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company’s stock worth $5,170,000 after acquiring an additional 263,338 shares during the period. SG Americas Securities LLC boosted its position in shares of NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after acquiring an additional 589,082 shares in the last quarter. Finally, Swedbank AB raised its position in NIO by 0.8% during the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock valued at $4,657,000 after purchasing an additional 9,000 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.