NIO (NYSE:NIO) Trading 3.4% Higher – Should You Buy?

Nio Inc – (NYSE:NIO) shares rose 3.4% during trading on Tuesday . The stock traded as high as $4.58 and last traded at $4.57. Approximately 16,345,402 shares changed hands during trading, a decline of 71% from the average daily volume of 56,726,723 shares. The stock had previously closed at $4.42.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Wolfe Research assumed coverage on shares of NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Daiwa America raised shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Finally, The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIO presently has an average rating of “Hold” and an average target price of $5.71.

NIO Stock Up 1.9 %

The company’s 50-day simple moving average is $4.94 and its two-hundred day simple moving average is $4.82. The firm has a market capitalization of $7.56 billion, a P/E ratio of -2.91 and a beta of 1.77. 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 Inflows and Outflows

Several institutional investors have recently made changes to their positions in NIO. Renaissance Technologies LLC purchased a new stake in NIO in the 2nd quarter worth $1,076,000. International Assets Investment Management LLC grew its position in shares of NIO by 580.9% during the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after purchasing an additional 334,723 shares in the last quarter. Toronto Dominion Bank raised its stake in NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after purchasing an additional 132,237 shares during the period. FMR LLC lifted its holdings 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 purchasing an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in NIO in the 3rd quarter worth approximately $1,327,000. Institutional investors own 48.55% of the company’s stock.

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.