NIO (NYSE:NIO) Stock Price Up 3% – Should You Buy?

Nio Inc – (NYSE:NIO) was up 3% during mid-day trading on Thursday . The stock traded as high as $4.38 and last traded at $4.35. Approximately 12,452,793 shares traded hands during trading, a decline of 69% from the average daily volume of 40,038,344 shares. The stock had previously closed at $4.22.

Analyst Upgrades and Downgrades

NIO has been the subject of a number of recent analyst reports. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Finally, Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.71.

NIO Stock Up 5.1 %

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The firm’s 50-day moving average price is $4.45 and its 200 day moving average price is $4.77. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of -2.94 and a beta of 1.70.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its position 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 purchasing an additional 3,607 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO in the third quarter valued at approximately $32,000. Trilogy Capital Inc. purchased a new position in shares of NIO during the fourth quarter valued at approximately $45,000. U.S. Capital Wealth Advisors LLC acquired a new stake in NIO during the fourth quarter worth approximately $53,000. Finally, ABC Arbitrage SA purchased a new stake in NIO in the 4th quarter worth approximately $55,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.