NIO (NYSE:NIO) Shares Up 4.4% - Still a Buy?

Nio Inc - (NYSE:NIO - Get Free Report) shares rose 4.4% on Monday . The stock traded as high as $4.67 and last traded at $4.67. Approximately 29,746,646 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 54,210,794 shares. The stock had previously closed at $4.47.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NIO. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Hsbc Global Res lowered shares of 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 decreased their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. The Goldman Sachs Group cut NIO from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.30.

NIO Trading Up 0.1 %

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 market capitalization of $9.34 billion, a price-to-earnings ratio of -2.96 and a beta of 1.81. The firm has a 50-day moving average price of $4.33 and a 200-day moving average price of $4.81.

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank lifted its stake in NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock valued at $883,000 after purchasing an additional 132,237 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of NIO in the 4th quarter valued at $1,360,000. AlphaStar Capital Management LLC purchased a new position in NIO in the 4th quarter worth about $537,000. FMR LLC raised its holdings 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. Finally, Main Management ETF Advisors LLC purchased a new stake in NIO during the third quarter valued at about $1,327,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.

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