NIO (NYSE:NIO) Stock Price Up 3% – Time to Buy?

Nio Inc – (NYSE:NIO) rose 3% during mid-day trading on Thursday . The company traded as high as $4.38 and last traded at $4.35. Approximately 12,452,793 shares changed hands during mid-day 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

A number of analysts recently issued reports on the company. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and lowered their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. HSBC cut NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Hsbc Global Res cut shares of NIO from a “strong-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 dropped their price target for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.71.

NIO Price Performance

The stock has a market cap of $8.99 billion, a P/E ratio of -2.85 and a beta of 1.70. 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 business’s fifty day moving average price is $4.44 and its 200 day moving average price is $4.76.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings 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 buying an additional 3,607 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO in the third quarter worth approximately $32,000. Trilogy Capital Inc. bought a new stake in NIO in the fourth quarter valued at approximately $45,000. U.S. Capital Wealth Advisors LLC acquired a new stake in NIO during the 4th quarter valued at approximately $53,000. Finally, ABC Arbitrage SA acquired a new position in shares of NIO in the 4th quarter worth approximately $55,000. Institutional investors and hedge funds 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.