NIO (NYSE:NIO) Shares Up 3.4% – Time to Buy?

Shares of Nio Inc – (NYSE:NIO) were up 3.4% on Friday . The stock traded as high as $4.49 and last traded at $4.39. Approximately 19,763,161 shares traded hands during trading, a decline of 63% from the average daily volume of 54,104,266 shares. The stock had previously closed at $4.24.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, HSBC lowered NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.30.

NIO Trading Up 5.1 %

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 market cap of $9.30 billion, a PE ratio of -2.95 and a beta of 1.81. The company has a fifty day simple moving average of $4.33 and a two-hundred day simple moving average of $4.80.

Institutional Trading of NIO

A number of large investors have recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after acquiring an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after purchasing an additional 4,332 shares in the last quarter. Callan Family Office LLC purchased a new position in NIO in the fourth quarter valued at $44,000. Sava Infond d.o.o. acquired a new stake in NIO in the fourth quarter valued at $44,000. Finally, Trilogy Capital Inc. purchased a new stake in NIO during the 4th quarter worth about $45,000. 48.55% of the stock is currently 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.