NIO (NYSE:NIO) Trading 3.8% Higher – Time to Buy?

Nio Inc – (NYSE:NIO) rose 3.8% on Friday . The stock traded as high as $4.69 and last traded at $4.54. Approximately 43,196,259 shares changed hands during trading, a decline of 3% from the average daily volume of 44,732,063 shares. The stock had previously closed at $4.37.

Analyst Upgrades and Downgrades

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

NIO Stock Up 1.7 %

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

Institutional Trading of NIO

A number of institutional investors and hedge funds have recently modified their holdings of NIO. Blue Trust Inc. boosted its position in NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after purchasing an additional 3,607 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of NIO in the 3rd quarter worth about $32,000. Jones Financial Companies Lllp grew its position in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after buying an additional 4,332 shares during the period. Callan Family Office LLC purchased a new stake in NIO during the fourth quarter worth about $44,000. Finally, Sava Infond d.o.o. bought a new stake in NIO in the fourth quarter worth about $44,000. 48.55% of the stock is 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.