NIO (NYSE:NIO) Shares Up 4.4% – Should You Buy?

Nio Inc – (NYSE:NIO) rose 4.4% during trading on Monday . The stock traded as high as $4.67 and last traded at $4.67. Approximately 29,746,646 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 54,210,794 shares. The stock had previously closed at $4.47.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NIO. HSBC cut shares of NIO from a “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 dropped their price objective for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NIO has an average rating of “Hold” and a consensus target price of $5.30.

NIO Trading Up 17.2 %

The company has a market cap of $10.91 billion, a PE ratio of -3.46 and a beta of 1.81. The company’s 50 day simple moving average is $4.35 and its two-hundred day simple moving average is $4.82. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Hedge Funds Weigh In On NIO

A number of hedge funds have recently made changes to their positions in NIO. Blue Trust Inc. lifted its stake in NIO by 138.5% during the fourth 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. Jones Financial Companies Lllp raised its holdings in shares of NIO by 131.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after buying an additional 4,332 shares during the period. Callan Family Office LLC acquired a new position in NIO during the 4th quarter worth about $44,000. Sava Infond d.o.o. purchased a new position in NIO during the 4th quarter valued at about $44,000. Finally, Trilogy Capital Inc. acquired a new position in NIO in the 4th quarter valued at about $45,000. 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.