NIO (NYSE:NIO) Trading 2.8% Higher - Time to Buy?

Nio Inc - (NYSE:NIO - Get Free Report) shares traded up 2.8% during mid-day trading on Friday . The stock traded as high as $4.22 and last traded at $4.25. 8,078,009 shares were traded during trading, a decline of 80% from the average session volume of 40,244,711 shares. The stock had previously closed at $4.13.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NIO shares. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Daiwa America upgraded shares of NIO to a "strong-buy" rating in a report on Monday, September 30th. The Goldman Sachs Group cut shares of NIO from a "neutral" rating to a "sell" rating and dropped their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Macquarie cut shares of NIO from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Finally, HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, NIO presently has an average rating of "Hold" and a consensus price target of $5.71.

NIO Price Performance

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 stock has a market cap of $7.36 billion, a P/E ratio of -2.83 and a beta of 1.70. The firm has a 50-day moving average price of $4.48 and a 200-day moving average price of $4.78.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Blue Trust Inc. grew its stake in shares of NIO by 138.5% in the fourth 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. Allspring Global Investments Holdings LLC bought a new position in NIO in the 3rd quarter worth about $32,000. U.S. Capital Wealth Advisors LLC purchased a new stake in NIO during the 4th quarter valued at about $53,000. Perigon Wealth Management LLC increased its stake in NIO by 24.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock valued at $61,000 after purchasing an additional 2,867 shares in the last quarter. Finally, AE Wealth Management LLC purchased a new position in NIO in the second quarter worth about $75,000. 48.55% of the stock is currently owned by institutional investors.

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.