NIO (NYSE:NIO) Shares Gap Up – Time to Buy?

Nio Inc – (NYSE:NIO)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $4.61, but opened at $4.94. NIO shares last traded at $5.22, with a volume of 32,804,740 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock 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. 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 research report on Monday, November 25th. Wolfe Research initiated coverage on shares of NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Bank of America increased their target price on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Down 7.8 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of -3.16 and a beta of 1.77. The firm’s 50-day simple moving average is $5.20 and its two-hundred day simple moving average is $4.84.

Institutional Investors Weigh In On NIO

Several institutional investors have recently modified their holdings of the business. Garden State Investment Advisory Services LLC acquired a new stake in shares of NIO during the 3rd quarter worth approximately $374,000. Tidal Investments LLC grew its position in shares of NIO by 2.4% during the 3rd quarter. Tidal Investments LLC now owns 280,140 shares of the company’s stock worth $1,871,000 after buying an additional 6,545 shares during the period. Sanctuary Advisors LLC grew its position in shares of NIO by 63.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company’s stock worth $553,000 after buying an additional 32,069 shares during the period. Toronto Dominion Bank grew its position in shares of NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after buying an additional 132,237 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new stake in shares of NIO during the 3rd quarter worth approximately $1,327,000. 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.