NIO (NYSE:NIO) Shares Gap Up - Time to Buy?

Nio Inc - (NYSE:NIO - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $4.46, but opened at $4.75. NIO shares last traded at $4.85, with a volume of 22,359,445 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NIO. The Goldman Sachs Group downgraded NIO from a "neutral" rating to a "sell" rating and reduced their price target for the company from $4.80 to $3.90 in a report on Monday, November 25th. JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and cut their price target for the company from $7.00 to $4.70 in a research note 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. Macquarie downgraded NIO from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has 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 a consensus target price of $5.30.

NIO Stock Performance

The firm has a market capitalization of $10.63 billion, a price-to-earnings ratio of -3.37 and a beta of 1.81. The firm's 50 day simple moving average is $4.35 and its 200 day simple moving average is $4.82. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

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Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. PDS Planning Inc lifted its stake in shares of NIO by 13.0% in the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company's stock valued at $99,000 after purchasing an additional 2,627 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of NIO by 25.3% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock worth $59,000 after acquiring an additional 2,712 shares in the last quarter. Franklin Resources Inc. raised its position in NIO by 20.4% in the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock valued at $72,000 after purchasing an additional 2,788 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in NIO by 24.1% in the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock worth $61,000 after acquiring an additional 2,867 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in shares of NIO by 17.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company's stock worth $94,000 after purchasing an additional 3,152 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.