NIO (NYSE:NIO) Trading 4.4% Higher - Should You Buy?

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price was up 4.4% on Monday . The company traded as high as $4.67 and last traded at $4.67. Approximately 29,746,646 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 54,210,794 shares. The stock had previously closed at $4.47.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NIO shares. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. The Goldman Sachs Group lowered shares of NIO from a "neutral" rating to a "sell" rating and cut their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Macquarie lowered shares of NIO from an "outperform" rating to a "neutral" rating and cut their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $5.03.

NIO Trading Up 3.3 %

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 market cap of $10.20 billion, a PE ratio of -3.24 and a beta of 1.81. The company's 50-day moving average is $4.38 and its 200 day moving average is $4.83.

Institutional Investors Weigh In On NIO

Several hedge funds have recently made changes to their positions in the company. PDS Planning Inc lifted its position in shares of NIO by 13.0% in the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company's stock valued at $99,000 after acquiring an additional 2,627 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in NIO by 25.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock valued at $59,000 after buying an additional 2,712 shares during the period. Franklin Resources Inc. increased its stake in NIO by 20.4% in the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock valued at $72,000 after buying an additional 2,788 shares during the period. Perigon Wealth Management LLC increased its stake in NIO by 24.1% in the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock valued at $61,000 after buying an additional 2,867 shares during the period. Finally, TD Waterhouse Canada Inc. increased its stake in NIO by 17.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company's stock valued at $94,000 after buying an additional 3,152 shares during the period. Hedge funds and other institutional investors 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.