NIO (NYSE:NIO) Shares Up 2.9% – Still a Buy?

Nio Inc – (NYSE:NIO) shares traded up 2.9% during mid-day trading on Tuesday . The stock traded as high as $4.66 and last traded at $4.61. 12,982,673 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 56,311,289 shares. The stock had previously closed at $4.48.

Analyst Ratings Changes

NIO has been the topic of a number of recent research reports. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and cut their target price for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Wolfe Research assumed coverage on NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Bank of America upped their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, NIO presently has a consensus rating of “Hold” and an average price target of $5.71.

NIO Price Performance

The firm has a market capitalization of $7.94 billion, a PE ratio of -3.06 and a beta of 1.77. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company has a fifty day moving average price of $4.83 and a two-hundred day moving average price of $4.80.

Institutional Investors Weigh In On NIO

Several large investors have recently modified their holdings of NIO. Ballentine Partners LLC increased its holdings in shares of NIO by 11.5% in the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after acquiring an additional 2,482 shares during the period. Atomi Financial Group Inc. increased its stake in NIO by 15.5% in the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock valued at $129,000 after purchasing an additional 2,588 shares during the period. Greenwich Wealth Management LLC raised its holdings in shares of NIO by 12.9% in the second quarter. Greenwich Wealth Management LLC now owns 29,027 shares of the company’s stock valued at $121,000 after buying an additional 3,315 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of NIO by 1.7% during the second quarter. Commonwealth Equity Services LLC now owns 208,152 shares of the company’s stock worth $866,000 after buying an additional 3,539 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of NIO by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,303,549 shares of the company’s stock worth $5,742,000 after buying an additional 3,548 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.