NIO (NYSE:NIO) Shares Up 3.4% – Still a Buy?

Shares of Nio Inc – (NYSE:NIO) traded up 3.4% during trading on Friday . The stock traded as high as $4.59 and last traded at $4.55. 13,656,837 shares were traded during mid-day trading, a decline of 76% from the average session volume of 56,479,652 shares. The stock had previously closed at $4.40.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Citigroup reduced their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Wolfe Research assumed coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Daiwa America raised shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Finally, Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.71.

NIO Price Performance

The firm has a market cap of $7.80 billion, a price-to-earnings ratio of -3.01 and a beta of 1.77. The stock’s fifty day moving average price is $4.87 and its 200-day moving average price is $4.81. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Hedge Funds Weigh In On NIO

Several large investors have recently modified their holdings of the business. Point72 Asset Management L.P. raised its holdings in NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after buying an additional 4,018,659 shares during the period. FMR LLC raised its stake in shares of NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after acquiring an additional 538,907 shares during the last quarter. Krane Funds Advisors LLC boosted its position in shares of NIO by 31.7% during the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock worth $6,401,000 after purchasing an additional 370,556 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in NIO by 32.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after purchasing an additional 343,910 shares during the last quarter. Institutional investors and hedge funds 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.