NIO (NYSE:NIO) Shares Up 5.4% – Should You Buy?

Shares of Nio Inc – (NYSE:NIO) traded up 5.4% during trading on Friday . The stock traded as high as $4.42 and last traded at $4.39. 21,830,946 shares changed hands during trading, a decline of 47% from the average session volume of 40,854,066 shares. The stock had previously closed at $4.16.

Wall Street Analyst Weigh In

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

NIO Stock Performance

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a fifty day moving average price of $4.53 and a two-hundred day moving average price of $4.79. The company has a market cap of $7.52 billion, a P/E ratio of -2.90 and a beta of 1.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NIO. SG Americas Securities LLC grew its position in NIO by 104.8% in the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock valued at $5,018,000 after buying an additional 589,082 shares in the last quarter. MCF Advisors LLC lifted its stake in shares of NIO by 4.2% in the 4th quarter. MCF Advisors LLC now owns 111,350 shares of the company’s stock worth $485,000 after acquiring an additional 4,479 shares during the period. Atomi Financial Group Inc. boosted its holdings in shares of NIO by 39.1% in the fourth quarter. Atomi Financial Group Inc. now owns 26,881 shares of the company’s stock valued at $117,000 after acquiring an additional 7,554 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of NIO by 31.2% during the fourth quarter. Ballentine Partners LLC now owns 31,508 shares of the company’s stock valued at $137,000 after acquiring an additional 7,488 shares during the period. Finally, Sanders Morris Harris LLC bought a new stake in NIO during the fourth quarter worth approximately $270,000. 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.