NIO (NYSE:NIO) Shares Up 0.6% - Still a Buy?

Shares of Nio Inc - (NYSE:NIO - Get Free Report) were up 0.6% on Thursday . The company traded as high as $4.29 and last traded at $4.24. Approximately 20,817,279 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 42,744,117 shares. The stock had previously closed at $4.21.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. HSBC downgraded NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut shares of NIO from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Macquarie cut shares of NIO from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. The Goldman Sachs Group lowered shares of NIO from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Finally, Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given 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 Price Performance

The firm has a fifty day moving average price of $4.37 and a two-hundred day moving average price of $4.75. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $9.09 billion, a P/E ratio of -2.88 and a beta of 1.68.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised 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. Allspring Global Investments Holdings LLC purchased a new position in shares of NIO in the third quarter worth $32,000. Jones Financial Companies Lllp lifted its holdings in shares of NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after purchasing an additional 4,332 shares in the last quarter. Callan Family Office LLC purchased a new stake in shares of NIO during the fourth quarter valued at $44,000. Finally, Sava Infond d.o.o. purchased a new stake in shares of NIO during the fourth quarter valued at $44,000. 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.