NIO (NYSE:NIO) Shares Up 2.6% - Should You Buy?

Nio Inc - (NYSE:NIO - Get Free Report) shares shot up 2.6% during trading on Friday . The stock traded as high as $5.06 and last traded at $4.86. 29,030,817 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 54,918,375 shares. The stock had previously closed at $4.73.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NIO shares. HSBC downgraded NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and cut their target price for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. The Goldman Sachs Group lowered NIO from a "neutral" rating to a "sell" rating and lowered their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Finally, Macquarie lowered shares of NIO from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, seven have given 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.com, the company presently has an average rating of "Hold" and an average target price of $5.03.

NIO Stock Up 2.3 %

The company has a market capitalization of $10.47 billion, a PE ratio of -3.33 and a beta of 1.81. The stock's fifty day moving average is $4.38 and its two-hundred day moving average is $4.84. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Shufro Rose & Co. LLC bought a new position in shares of NIO during the 4th quarter worth $65,000. Vident Advisory LLC boosted its position in NIO by 60.6% during the fourth quarter. Vident Advisory LLC now owns 53,937 shares of the company's stock worth $235,000 after purchasing an additional 20,349 shares during the period. Vienna Asset Management LLC purchased a new position in shares of NIO in the fourth quarter worth about $100,000. Laird Norton Wetherby Trust Company LLC bought a new stake in shares of NIO in the fourth quarter valued at approximately $93,000. Finally, Laird Norton Wetherby Wealth Management LLC raised its position in shares of NIO by 15.1% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company's stock valued at $290,000 after purchasing an additional 8,746 shares during the period. 48.55% of the stock is owned by 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.