NIO (NYSE:NIO) Trading 1.7% Higher - Should You Buy?

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price shot up 1.7% on Wednesday . The company traded as high as $4.52 and last traded at $4.44. 18,425,814 shares traded hands during trading, a decline of 57% from the average session volume of 43,335,148 shares. The stock had previously closed at $4.36.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NIO. Macquarie lowered NIO from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. HSBC lowered NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Hsbc Global Res lowered NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $5.38.

NIO Trading Down 0.3 %

The stock has a market capitalization of $9.13 billion, a PE ratio of -2.90 and a beta of 1.68. The firm has a 50-day moving average price of $4.35 and a 200-day moving average price of $4.75. 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 Investors Weigh In On NIO

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in NIO in the 3rd quarter worth about $32,000. Blue Trust Inc. increased its holdings in NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after acquiring an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in NIO by 131.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after acquiring an additional 4,332 shares during the last quarter. Sava Infond d.o.o. purchased a new stake in NIO in the 4th quarter worth about $44,000. Finally, Callan Family Office LLC purchased a new stake in NIO in the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

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.