NIO (NYSE:NIO) Trading 0.6% Higher - Time to Buy?

Nio Inc - (NYSE:NIO - Get Free Report) shares shot up 0.6% on Friday . The company traded as high as $4.33 and last traded at $4.23. 19,515,340 shares were traded during trading, a decline of 53% from the average session volume of 41,174,586 shares. The stock had previously closed at $4.20.

Analyst Ratings Changes

A number of research firms recently weighed in on NIO. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. The Goldman Sachs Group lowered shares of NIO from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, Macquarie lowered shares of NIO from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, NIO presently has an average rating of "Hold" and a consensus target price of $5.38.

NIO Stock Performance

The firm's fifty day moving average price is $4.42 and its 200 day moving average price is $4.76. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of -2.86 and a beta of 1.68.

Institutional Investors Weigh In On NIO

Several large investors have recently added to or reduced their stakes in NIO. FMR LLC increased its stake in NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock worth $36,038,000 after buying an additional 5,296,601 shares during the period. Point72 Hong Kong Ltd purchased a new stake in NIO during the 3rd quarter worth approximately $4,879,000. SG Americas Securities LLC increased its stake in NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock worth $5,018,000 after buying an additional 589,082 shares during the period. Quadrature Capital Ltd increased its stake in NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock worth $14,756,000 after buying an additional 538,907 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in NIO during the 4th quarter worth approximately $1,776,000. 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.