NIO (NYSE:NIO) Trading 6.2% Higher – Time to Buy?

Nio Inc – (NYSE:NIO)’s share price shot up 6.2% during trading on Thursday . The company traded as high as $5.13 and last traded at $5.01. 63,389,759 shares changed hands during mid-day trading, an increase of 31% from the average session volume of 48,376,867 shares. The stock had previously closed at $4.72.

Analyst Ratings Changes

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

NIO Trading Up 1.6 %

The firm has a market cap of $10.01 billion, a PE ratio of -3.18 and a beta of 1.69. 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 50-day simple moving average of $4.35 and a 200 day simple moving average of $4.78.

Institutional Investors Weigh In On NIO

A number of institutional investors have recently modified their holdings of the business. FMR LLC raised its stake in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after buying an additional 5,296,601 shares during the period. Trexquant Investment LP purchased a new position in shares of NIO in the fourth quarter valued at approximately $3,305,000. Point72 Hong Kong Ltd acquired a new stake in shares of NIO in the third quarter worth approximately $4,879,000. SG Americas Securities LLC boosted its stake in NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after purchasing an additional 589,082 shares during the last quarter. Finally, Quadrature Capital Ltd grew its holdings in shares of NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after buying an additional 538,907 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.