NIO (NYSE:NIO) Trading Up 9.9% - Time to Buy?

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price was up 9.9% during mid-day trading on Tuesday . The stock traded as high as $4.97 and last traded at $4.90. Approximately 50,873,836 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 54,351,028 shares. The stock had previously closed at $4.46.

Wall Street Analysts Forecast Growth

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

NIO Price Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm has a fifty day simple moving average of $4.38 and a 200 day simple moving average of $4.83. The company has a market capitalization of $10.20 billion, a PE ratio of -3.24 and a beta of 1.81.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank boosted its stake in shares of NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock valued at $883,000 after purchasing an additional 132,237 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in NIO in the fourth quarter valued at approximately $1,360,000. AlphaStar Capital Management LLC acquired a new stake in NIO in the fourth quarter valued at approximately $537,000. FMR LLC boosted its stake 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 acquiring an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in NIO in the third quarter valued at approximately $1,327,000. 48.55% of the stock is currently owned by institutional investors.

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.