NIO (NYSE:NIO) Stock Price Up 3.7% – Should You Buy?

Nio Inc – (NYSE:NIO)’s stock price shot up 3.7% during trading on Monday . The company traded as high as $4.91 and last traded at $4.80. 27,141,350 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 40,302,086 shares. The stock had previously closed at $4.63.

Analyst Upgrades and Downgrades

NIO has been the topic of a number of analyst reports. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday. Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $4.80 to $3.90 in a report on Monday, November 25th. Finally, Macquarie cut NIO from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.71.

NIO Trading Down 4.2 %

The business’s 50-day moving average price is $4.67 and its 200-day moving average price is $4.81. The firm has a market capitalization of $7.43 billion, a PE ratio of -2.86 and a beta of 1.70. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Hedge Funds Weigh In On NIO

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its stake in shares of NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after acquiring an additional 4,018,659 shares during the period. FMR LLC lifted its position in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the period. Quadrature Capital Ltd boosted its holdings in NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after purchasing an additional 538,907 shares in the last quarter. Krane Funds Advisors LLC increased its position in NIO by 31.7% during the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock worth $6,401,000 after purchasing an additional 370,556 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of NIO by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after buying an additional 343,910 shares in the last quarter. Institutional investors and hedge funds 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.