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

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

Analyst Ratings Changes

Several brokerages have recently weighed in on NIO. The Goldman Sachs Group downgraded NIO from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Macquarie downgraded 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 note on Wednesday, November 20th. Finally, HSBC downgraded NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $5.30.

NIO Trading Up 3.3 %

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 company has a fifty day simple moving average of $4.37 and a 200-day simple moving average of $4.82. The company has a market capitalization of $10.20 billion, a PE ratio of -3.24 and a beta of 1.81.

Hedge Funds Weigh In On NIO

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its holdings in shares of NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after purchasing an additional 3,607 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of NIO by 131.8% during the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after purchasing an additional 4,332 shares during the period. Sava Infond d.o.o. purchased a new position in shares of NIO during the 4th quarter worth $44,000. Callan Family Office LLC acquired a new position in NIO during the 4th quarter worth about $44,000. Finally, Trilogy Capital Inc. acquired a new position in NIO during the 4th quarter worth about $45,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Remove Ads