NIO (NYSE:NIO) Trading Up 6.2% – Still a Buy?

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NIO shares. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and cut their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. HSBC lowered NIO from a “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 cut their price target for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and cut their price target for the stock 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, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and an average price target of $5.38.

NIO Stock Down 3.4 %

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $9.65 billion, a PE ratio of -3.06 and a beta of 1.68. The stock has a 50-day moving average of $4.36 and a 200 day moving average of $4.78.

Institutional Trading of NIO

A number of institutional investors and hedge funds have recently modified their holdings of the business. Shufro Rose & Co. LLC purchased a new stake in shares of NIO during the fourth quarter valued at approximately $65,000. Vident Advisory LLC increased its position in NIO by 60.6% in the fourth quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock worth $235,000 after buying an additional 20,349 shares during the last quarter. Vienna Asset Management LLC purchased a new stake in NIO in the fourth quarter worth $100,000. Laird Norton Wetherby Trust Company LLC purchased a new stake in NIO in the fourth quarter worth $93,000. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in NIO by 15.1% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock worth $290,000 after buying an additional 8,746 shares during the last quarter. 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.