NIO (NYSE:NIO) Stock Price Up 2.8% – Time to Buy?

Shares of Nio Inc – (NYSE:NIO) traded up 2.8% during trading on Friday . The company traded as high as $4.22 and last traded at $4.25. 8,078,009 shares changed hands during trading, a decline of 80% from the average session volume of 40,244,711 shares. The stock had previously closed at $4.13.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Macquarie lowered 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 research note on Wednesday, November 20th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Stock Up 3.5 %

The stock has a market capitalization of $7.36 billion, a PE ratio of -2.82 and a beta of 1.70. 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 firm has a 50 day moving average of $4.49 and a two-hundred day moving average of $4.78.

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in NIO in the 2nd quarter valued at about $1,076,000. International Assets Investment Management LLC grew its holdings in shares of NIO by 580.9% during the 3rd quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after purchasing an additional 334,723 shares during the period. Toronto Dominion Bank boosted its holdings in NIO by 1,652,962.5% in the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after acquiring an additional 132,237 shares during the period. FMR LLC boosted its holdings in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after acquiring an additional 5,296,601 shares during the period. Finally, Main Management ETF Advisors LLC purchased a new position in NIO in the 3rd quarter worth approximately $1,327,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.