NIO (NYSE:NIO) Stock Price Up 0.6% - Should You Buy?

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

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of research analyst reports. Hsbc Global Res downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. 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. HSBC downgraded shares of NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of NIO from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Finally, Macquarie downgraded shares of NIO from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock 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 assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $5.38.

NIO Trading Up 4.2 %

The firm has a market cap of $8.79 billion, a PE ratio of -2.79 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. The stock's fifty day simple moving average is $4.40 and its two-hundred day simple moving average is $4.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its position in NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after purchasing an additional 3,607 shares during the period. Allspring Global Investments Holdings LLC bought a new position in NIO during the third quarter valued at approximately $32,000. Jones Financial Companies Lllp lifted its position in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after purchasing an additional 4,332 shares during the period. Callan Family Office LLC bought a new position in NIO during the fourth quarter valued at approximately $44,000. Finally, Sava Infond d.o.o. purchased a new stake in NIO during the fourth quarter valued at approximately $44,000. Institutional investors own 48.55% of the company's stock.

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.