NIO (NYSE:NIO) Shares Up 0.6% - Time to Buy?

Nio Inc - (NYSE:NIO - Get Free Report) shares rose 0.6% on Thursday . The company traded as high as $4.29 and last traded at $4.24. Approximately 20,817,279 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 42,744,117 shares. The stock had previously closed at $4.21.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of research analyst reports. The Goldman Sachs Group downgraded shares of NIO from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Macquarie lowered NIO from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. HSBC downgraded shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given 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 Performance

The company has a market cap of $9.26 billion, a P/E ratio of -2.94 and a beta of 1.68. The business has a fifty day moving average of $4.39 and a 200 day moving average of $4.75. 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 Trading of NIO

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truist Financial Corp boosted its position in shares of NIO by 32.2% during the second quarter. Truist Financial Corp now owns 25,253 shares of the company's stock valued at $105,000 after purchasing an additional 6,150 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in NIO during the second quarter valued at $228,000. Creative Planning lifted its position in NIO by 8.3% during the third quarter. Creative Planning now owns 290,558 shares of the company's stock valued at $1,941,000 after buying an additional 22,240 shares during the period. JTC Employer Solutions Trustee Ltd boosted its holdings in shares of NIO by 750.5% during the 3rd quarter. JTC Employer Solutions Trustee Ltd now owns 31,051 shares of the company's stock valued at $207,000 after buying an additional 27,400 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of NIO in the 3rd quarter worth about $32,000. 48.55% of the stock is currently 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.