NIO (NYSE:NIO) Trading 0.6% Higher – Still a Buy?

Shares of Nio Inc – (NYSE:NIO) were up 0.6% on Thursday . The company traded as high as $4.29 and last traded at $4.24. Approximately 20,817,279 shares traded hands during trading, a decline of 51% from the average daily volume of 42,744,117 shares. The stock had previously closed at $4.21.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NIO. Macquarie lowered shares of 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. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and reduced their price objective for the stock 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 note on Tuesday, January 7th. HSBC lowered NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.38.

NIO Stock Performance

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average of $4.40 and a 200 day moving average of $4.75. The company has a market capitalization of $8.86 billion, a P/E ratio of -2.82 and a beta of 1.68.

Hedge Funds Weigh In On NIO

Several institutional investors have recently bought and sold shares of NIO. Raymond James Financial Inc. purchased a new stake in shares of NIO during the 4th quarter valued at about $1,776,000. Krane Funds Advisors LLC increased its stake in NIO by 39.4% during the fourth quarter. Krane Funds Advisors LLC now owns 662,100 shares of the company’s stock worth $2,887,000 after acquiring an additional 187,260 shares during the last quarter. Arizona PSPRS Trust purchased a new stake in NIO during the fourth quarter valued at approximately $1,330,000. Trexquant Investment LP purchased a new position in shares of NIO in the 4th quarter worth approximately $3,305,000. Finally, Franklin Resources Inc. increased its position in shares of NIO by 20.4% during the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock valued at $72,000 after purchasing an additional 2,788 shares during the last quarter. 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.