NIO (NYSE:NIO) Trading 0.4% Higher - Should You Buy?

Nio Inc - (NYSE:NIO - Get Free Report)'s share price shot up 0.4% on Tuesday . The company traded as high as $4.30 and last traded at $4.29. 11,883,104 shares traded hands during trading, a decline of 71% from the average session volume of 41,037,113 shares. The stock had previously closed at $4.27.

Wall Street Analyst Weigh In

NIO has been the subject of a number of recent research reports. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group downgraded shares of NIO from a "neutral" rating to a "sell" rating and cut their price objective for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Finally, Macquarie cut shares of NIO from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $5.71.

NIO Stock Down 3.0 %

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 company has a market cap of $8.99 billion, a P/E ratio of -2.85 and a beta of 1.70. The stock has a 50 day moving average price of $4.45 and a 200 day moving average price of $4.77.

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Institutional Trading of NIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in NIO in the 2nd quarter worth approximately $1,076,000. International Assets Investment Management LLC boosted its position in shares of NIO by 580.9% in the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company's stock worth $2,621,000 after buying an additional 334,723 shares during the period. Toronto Dominion Bank grew its holdings in shares of 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 buying an additional 132,237 shares in the last quarter. FMR LLC lifted its stake in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock worth $36,038,000 after acquiring an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in NIO during the 3rd quarter worth about $1,327,000. 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.