NIO (NYSE:NIO) Shares Up 2.5% – Time to Buy?

Nio Inc – (NYSE:NIO) rose 2.5% during mid-day trading on Tuesday . The stock traded as high as $4.56 and last traded at $4.49. Approximately 16,059,290 shares traded hands during trading, a decline of 71% from the average daily volume of 55,966,594 shares. The stock had previously closed at $4.38.

Analyst Ratings Changes

Several analysts have commented on NIO shares. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Daiwa America upgraded NIO to a “strong-buy” rating in a research report on Monday, September 30th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Bank of America upped their target price on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIO presently has a consensus rating of “Hold” and a consensus target price of $5.71.

NIO Trading Down 0.5 %

The firm has a market capitalization of $7.50 billion, a PE ratio of -2.89 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 firm has a 50 day simple moving average of $4.74 and a 200 day simple moving average of $4.80.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NIO. Allspring Global Investments Holdings LLC bought a new position in NIO in the third quarter valued at about $32,000. Caprock Group LLC bought a new position in shares of NIO in the 2nd quarter worth approximately $63,000. AE Wealth Management LLC bought a new stake in NIO during the second quarter valued at approximately $75,000. First Trust Direct Indexing L.P. purchased a new stake in NIO during the third quarter valued at approximately $76,000. Finally, Apollon Wealth Management LLC bought a new position in NIO in the third quarter worth approximately $78,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.