NIO (NYSE:NIO) Trading Up 1.1% – Still a Buy?

Nio Inc – (NYSE:NIO)’s stock price was up 1.1% during mid-day trading on Thursday . The company traded as high as $4.30 and last traded at $4.25. Approximately 14,334,572 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 41,372,059 shares. The stock had previously closed at $4.20.

Wall Street Analysts Forecast Growth

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

NIO Trading Up 0.8 %

The firm’s 50 day simple moving average is $4.42 and its 200-day simple moving average is $4.75. The company has a market capitalization of $8.84 billion, a PE ratio of -2.80 and a beta of 1.68. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of NIO during the 4th quarter valued at about $67,000. Callan Family Office LLC purchased a new stake in shares of NIO during the fourth quarter valued at approximately $44,000. Raymond James Financial Inc. acquired a new position in shares of NIO during the fourth quarter worth $1,776,000. WMG Financial Advisors LLC boosted its stake in shares of NIO by 37.7% in the fourth quarter. WMG Financial Advisors LLC now owns 381,535 shares of the company’s stock valued at $1,663,000 after purchasing an additional 104,478 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in NIO during the 4th quarter valued at $1,360,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.