NIO (NYSE:NIO) Stock Price Up 3% - Still a Buy?

Nio Inc - (NYSE:NIO - Get Free Report)'s share price was up 3% on Thursday . The stock traded as high as $4.38 and last traded at $4.35. Approximately 12,452,793 shares were traded during trading, a decline of 69% from the average daily volume of 40,038,344 shares. The stock had previously closed at $4.22.

Analysts Set New Price Targets

NIO has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut shares of NIO from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Macquarie cut NIO from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Hsbc Global Res cut NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, HSBC lowered NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NIO presently has an average rating of "Hold" and a consensus price target of $5.71.

NIO Stock Down 3.0 %

The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of -2.85 and a beta of 1.70. The firm's 50 day moving average price is $4.44 and its two-hundred day moving average price is $4.76. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Institutional Trading of NIO

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new position in shares of NIO during the 2nd quarter worth approximately $1,076,000. International Assets Investment Management LLC increased its holdings in shares of NIO by 580.9% in the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company's stock valued at $2,621,000 after purchasing an additional 334,723 shares during the last quarter. Toronto Dominion Bank raised its position in shares of NIO by 1,652,962.5% in 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 during the period. FMR LLC lifted its stake in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock worth $36,038,000 after buying an additional 5,296,601 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in shares of NIO during the 3rd quarter worth about $1,327,000. 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.