NIO (NYSE:NIO) Shares Up 2.3% - Still a Buy?

Nio Inc - (NYSE:NIO - Get Free Report) shares rose 2.3% on Thursday . The company traded as high as $4.51 and last traded at $4.42. Approximately 10,774,675 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 56,583,453 shares. The stock had previously closed at $4.32.

Analysts Set New Price Targets

Several equities analysts have commented on NIO shares. Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They issued a "peer perform" rating on the stock. Bank of America increased their price target on shares of NIO from $5.00 to $5.30 and gave the company a "neutral" rating in a report on Thursday, September 5th. JPMorgan Chase & Co. raised NIO from a "neutral" rating to an "overweight" rating and upped their target price for the company from $5.30 to $8.00 in a research report on Friday, September 6th. The Goldman Sachs Group downgraded NIO from a "neutral" rating to a "sell" rating and reduced their price target for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Citigroup lowered their price objective on NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $5.71.

NIO Stock Up 1.9 %

The company has a market cap of $7.56 billion, a P/E ratio of -2.91 and a beta of 1.77. The stock has a 50-day moving average of $4.94 and a 200 day moving average of $4.82. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Institutional Trading of NIO

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new position in NIO in the second quarter valued at approximately $1,076,000. International Assets Investment Management LLC increased its stake in shares of NIO by 580.9% in the 3rd quarter. International Assets Investment Management LLC now owns 392,343 shares of the company's stock valued at $2,621,000 after purchasing an additional 334,723 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock worth $883,000 after buying an additional 132,237 shares in the last quarter. FMR LLC lifted its position in shares of 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 last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in NIO in the third quarter valued at about $1,327,000. 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.