NIO (NYSE:NIO) Stock Price Up 2.5% – Should You Buy?

Nio Inc – (NYSE:NIO) traded up 2.5% during trading on Tuesday . The stock traded as high as $4.56 and last traded at $4.49. 16,059,290 shares were traded during mid-day trading, a decline of 71% from the average session volume of 55,966,594 shares. The stock had previously closed at $4.38.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NIO shares. Citigroup cut their price objective on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Bank of America raised their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, Wolfe Research initiated coverage on NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Performance

The stock has a market cap of $7.50 billion, a PE ratio of -2.89 and a beta of 1.77. The stock has a 50-day moving average of $4.74 and a 200 day moving average of $4.80. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in NIO by 140.2% during the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock worth $502,000 after acquiring an additional 43,839 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new stake in shares of NIO in the third quarter valued at $374,000. Tidal Investments LLC boosted its holdings in NIO by 2.4% in the third quarter. Tidal Investments LLC now owns 280,140 shares of the company’s stock valued at $1,871,000 after purchasing an additional 6,545 shares during the period. Sanctuary Advisors LLC raised its position in NIO by 63.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company’s stock valued at $553,000 after purchasing an additional 32,069 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of NIO by 1,652,962.5% in the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after buying an additional 132,237 shares during the period. 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.