NIO (NYSE:NIO) Trading Up 0.6% – Still a Buy?

Nio Inc – (NYSE:NIO)’s share price rose 0.6% during trading on Friday . The stock traded as high as $4.33 and last traded at $4.23. Approximately 19,515,340 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 41,174,586 shares. The stock had previously closed at $4.20.

Analyst Ratings Changes

NIO has been the subject of several research reports. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group downgraded 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. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $7.00 to $4.70 in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.38.

NIO Price Performance

The business has a fifty day moving average price of $4.42 and a 200 day moving average price of $4.75. The company has a market cap of $8.84 billion, a price-to-earnings ratio of -2.80 and a beta of 1.68. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ballentine Partners LLC boosted its stake in shares of NIO by 11.5% during the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after purchasing an additional 2,482 shares in the last quarter. Atomi Financial Group Inc. boosted its position in NIO by 15.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after buying an additional 2,588 shares during the period. Perigon Wealth Management LLC grew its holdings in NIO by 24.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock worth $61,000 after acquiring an additional 2,867 shares during the last quarter. BSW Wealth Partners increased its position in NIO by 21.4% in the 4th quarter. BSW Wealth Partners now owns 20,423 shares of the company’s stock valued at $89,000 after acquiring an additional 3,606 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after acquiring an additional 3,607 shares during the last quarter. 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.