NIO (NYSE:NIO) Trading Up 1.7% – Time to Buy?

Nio Inc – (NYSE:NIO)’s share price was up 1.7% during mid-day trading on Wednesday . The company traded as high as $4.52 and last traded at $4.44. Approximately 18,425,814 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 43,335,148 shares. The stock had previously closed at $4.36.

Wall Street Analyst Weigh In

A number of research firms recently commented on NIO. The Goldman Sachs Group downgraded 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. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and decreased their target price for the stock 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. HSBC cut NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and lowered their target price 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, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, NIO has a consensus rating of “Hold” and a consensus price target of $5.38.

NIO Stock Up 1.7 %

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 firm’s 50-day moving average price is $4.35 and its 200 day moving average price is $4.75. The firm has a market cap of $9.28 billion, a P/E ratio of -2.94 and a beta of 1.68.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NIO. International Assets Investment Management LLC boosted its position in shares of NIO by 580.9% during the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after buying an additional 334,723 shares during the period. Toronto Dominion Bank boosted its position in NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after acquiring an additional 132,237 shares during the period. AlphaStar Capital Management LLC bought a new position in shares of NIO in the fourth quarter worth $537,000. FMR LLC increased its holdings in shares of NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new position in shares of NIO during the third quarter valued at $1,327,000. Institutional investors own 48.55% of the company’s stock.

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.