NIO (NYSE:NIO) Shares Up 3.1% – Should You Buy?

Nio Inc – (NYSE:NIO)’s share price rose 3.1% during mid-day trading on Wednesday . The stock traded as high as $4.68 and last traded at $4.62. Approximately 24,244,377 shares changed hands during trading, a decline of 57% from the average daily volume of 56,362,250 shares. The stock had previously closed at $4.48.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of research reports. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. Citigroup decreased their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, Bank of America boosted their price objective on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.71.

NIO Price Performance

The firm has a market cap of $8.06 billion, a PE ratio of -3.11 and a beta of 1.77. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company has a 50 day moving average price of $4.81 and a 200 day moving average price of $4.80.

Institutional Trading of NIO

Several large investors have recently bought and sold shares of NIO. Allspring Global Investments Holdings LLC acquired a new stake in NIO in the 3rd quarter valued at about $32,000. Caprock Group LLC purchased a new position in shares of NIO during the 2nd quarter worth approximately $63,000. Atomi Financial Group Inc. acquired a new position in shares of NIO during the 2nd quarter worth approximately $70,000. AE Wealth Management LLC purchased a new stake in NIO in the 2nd quarter valued at approximately $75,000. Finally, First Trust Direct Indexing L.P. acquired a new stake in NIO during the 3rd quarter valued at $76,000. Institutional investors and hedge funds 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.