NIO (NYSE:NIO) Shares Up 2.5% - Should You Buy?

Nio Inc - (NYSE:NIO - Get Free Report) rose 2.5% during mid-day trading on Tuesday . The stock traded as high as $4.56 and last traded at $4.49. Approximately 16,059,290 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 55,966,594 shares. The stock had previously closed at $4.38.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Wolfe Research started coverage on shares of NIO in a research note on Thursday, September 5th. They set a "peer perform" rating for the company. The Goldman Sachs Group lowered shares of NIO from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. JPMorgan Chase & Co. upgraded shares of NIO from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $5.30 to $8.00 in a report on Friday, September 6th. Bank of America lifted their price target on shares of NIO from $5.00 to $5.30 and gave the company a "neutral" rating in a report on Thursday, September 5th. Finally, Macquarie lowered NIO from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NIO currently has a consensus rating of "Hold" and an average target price of $5.71.

NIO Stock Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The stock has a fifty day simple moving average of $4.77 and a two-hundred day simple moving average of $4.80. The stock has a market cap of $7.50 billion, a PE ratio of -2.89 and a beta of 1.77.

Institutional Investors Weigh In On NIO

A number of large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in NIO by 140.2% in the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company's stock valued at $502,000 after buying an additional 43,839 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new stake in NIO during the 3rd quarter valued at approximately $374,000. Tidal Investments LLC increased its holdings in NIO by 2.4% during the 3rd quarter. Tidal Investments LLC now owns 280,140 shares of the company's stock worth $1,871,000 after purchasing an additional 6,545 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of NIO by 63.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company's stock valued at $553,000 after purchasing an additional 32,069 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock valued at $883,000 after buying an additional 132,237 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.