NIO (NYSE:NIO) Trading 1% Higher – Still a Buy?

Shares of Nio Inc – (NYSE:NIO) rose 1% during trading on Monday . The company traded as high as $5.04 and last traded at $4.95. Approximately 13,289,533 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 54,984,946 shares. The stock had previously closed at $4.90.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NIO shares. HSBC cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and cut their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.03.

NIO Trading Up 3.1 %

The company has a market capitalization of $10.82 billion, a P/E ratio of -3.43 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The business’s 50-day moving average price is $4.40 and its two-hundred day moving average price is $4.86.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in shares of NIO by 140.2% during the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock valued at $502,000 after purchasing an additional 43,839 shares in the last quarter. Apollon Wealth Management LLC bought a new position in NIO in the third quarter valued at approximately $78,000. GSA Capital Partners LLP bought a new position in NIO in the third quarter valued at approximately $481,000. Banque Cantonale Vaudoise boosted its holdings in shares of NIO by 112.2% in the third quarter. Banque Cantonale Vaudoise now owns 363,885 shares of the company’s stock valued at $2,430,000 after buying an additional 192,394 shares during the period. Finally, West Family Investments Inc. bought a new stake in shares of NIO during the third quarter worth $138,000. 48.55% of the stock is currently owned by institutional investors.

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.