NIO (NYSE:NIO) Trading Up 9.4% – Should You Buy?

Nio Inc – (NYSE:NIO) shares rose 9.4% during trading on Wednesday . The company traded as high as $4.72 and last traded at $4.67. Approximately 49,689,398 shares traded hands during trading, an increase of 7% from the average daily volume of 46,398,512 shares. The stock had previously closed at $4.27.

Analysts Set New Price Targets

A number of equities analysts recently commented on NIO shares. JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Finally, Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NIO currently has an average rating of “Hold” and an average price target of $5.38.

NIO Trading Up 9.0 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm has a market capitalization of $9.72 billion, a P/E ratio of -3.08 and a beta of 1.69. The firm has a 50 day moving average price of $4.34 and a two-hundred day moving average price of $4.78.

Institutional Investors Weigh In On NIO

Large investors have recently modified their holdings of the stock. Creative Planning grew its position in shares of NIO by 8.3% during the 3rd quarter. Creative Planning now owns 290,558 shares of the company’s stock worth $1,941,000 after buying an additional 22,240 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of NIO during the 3rd quarter worth $32,000. Private Advisor Group LLC lifted its stake in NIO by 22.6% during the third quarter. Private Advisor Group LLC now owns 84,032 shares of the company’s stock worth $561,000 after purchasing an additional 15,509 shares during the last quarter. International Assets Investment Management LLC boosted its stake 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 valued at $2,621,000 after purchasing an additional 334,723 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of NIO by 8.1% in the third quarter. Assenagon Asset Management S.A. now owns 68,187 shares of the company’s stock worth $455,000 after purchasing an additional 5,094 shares during the last quarter. 48.55% of the stock is currently owned by 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.