NIO (NYSE:NIO) Stock Price Up 9.9% - Should You Buy?

Shares of Nio Inc - (NYSE:NIO - Get Free Report) rose 9.9% during 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 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 brokerages recently weighed in on NIO. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and cut their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. HSBC lowered NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Hsbc Global Res cut shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group downgraded shares of NIO from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Macquarie cut NIO from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.30.

NIO Price Performance

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 stock has a market cap of $10.15 billion, a PE ratio of -3.22 and a beta of 1.81. The company has a fifty day moving average of $4.37 and a 200-day moving average of $4.82.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. FMR LLC raised its position in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of NIO during the fourth quarter worth about $3,305,000. Point72 Hong Kong Ltd purchased a new stake in NIO in the third quarter valued at approximately $4,879,000. SG Americas Securities LLC grew its position in shares of NIO by 104.8% during the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock worth $5,018,000 after acquiring an additional 589,082 shares during the last quarter. Finally, Quadrature Capital Ltd increased its holdings in shares of NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock valued at $14,756,000 after acquiring an additional 538,907 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.