NIO (NYSE:NIO) Stock Price Up 6.2% - Should You Buy?

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price was up 6.2% during mid-day trading on Thursday . The company traded as high as $5.13 and last traded at $5.01. Approximately 63,389,759 shares were traded during mid-day trading, an increase of 31% from the average daily volume of 48,376,867 shares. The stock had previously closed at $4.72.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NIO shares. 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 lowered their price objective for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Hsbc Global Res cut NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group cut NIO from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, NIO presently has a consensus rating of "Hold" and an average target price of $5.38.

NIO Stock 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's 50 day simple moving average is $4.36 and its 200 day simple moving average is $4.80. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of -3.06 and a beta of 1.68.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently bought and sold shares of NIO. Blue Trust Inc. lifted its stake in NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after acquiring an additional 3,607 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in NIO during the 3rd quarter valued at approximately $32,000. Jones Financial Companies Lllp lifted its stake in NIO by 131.8% during the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after acquiring an additional 4,332 shares during the period. Callan Family Office LLC acquired a new stake in NIO during the 4th quarter valued at approximately $44,000. Finally, Sava Infond d.o.o. acquired a new stake in NIO during the 4th quarter valued at approximately $44,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.