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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. The Goldman Sachs Group lowered NIO from a "neutral" rating to a "sell" rating and lowered their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. HSBC downgraded NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Macquarie cut 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. Finally, JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $7.00 to $4.70 in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $5.38.

NIO Stock Up 2.5 %

The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of -2.90 and a beta of 1.69. 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 stock's fifty day simple moving average is $4.43 and its two-hundred day simple moving average is $4.76.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in shares of NIO during the second quarter valued at approximately $1,076,000. Sei Investments Co. raised its stake in NIO by 4.0% during the 2nd quarter. Sei Investments Co. now owns 195,894 shares of the company's stock valued at $815,000 after purchasing an additional 7,600 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of NIO by 10.7% in the second quarter. The Manufacturers Life Insurance Company now owns 181,043 shares of the company's stock valued at $753,000 after purchasing an additional 17,467 shares in the last quarter. Creative Planning boosted its position in shares of NIO by 34.7% in the second quarter. Creative Planning now owns 268,318 shares of the company's stock worth $1,116,000 after buying an additional 69,143 shares during the period. Finally, Truist Financial Corp grew its holdings in shares of NIO by 32.2% during the second quarter. Truist Financial Corp now owns 25,253 shares of the company's stock valued at $105,000 after buying an additional 6,150 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.