NIO (NYSE:NIO) Stock Price Up 9.9% - Still a Buy?

Nio Inc - (NYSE:NIO - Get Free Report)'s share price shot up 9.9% during mid-day trading on Tuesday . The stock traded as high as $4.97 and last traded at $4.90. 50,873,836 shares traded hands during trading, a decline of 6% from the average session volume of 54,351,028 shares. The stock had previously closed at $4.46.

Wall Street Analysts Forecast Growth

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

NIO Stock Performance

The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of -3.14 and a beta of 1.81. The company has a 50 day moving average price of $4.37 and a 200 day moving average price of $4.82. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Hedge Funds Weigh In On NIO

Institutional investors have recently modified their holdings of the company. FMR LLC grew its position in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the period. Trexquant Investment LP bought a new position in shares of NIO in the fourth quarter valued at $3,305,000. Point72 Hong Kong Ltd acquired a new position in shares of NIO during the third quarter valued at about $4,879,000. SG Americas Securities LLC increased its position in shares of NIO by 104.8% during the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock worth $5,018,000 after acquiring an additional 589,082 shares in the last quarter. Finally, Quadrature Capital Ltd raised its holdings in shares of NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock worth $14,756,000 after acquiring an additional 538,907 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.

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