NIO (NYSE:NIO) Shares Up 1.7% – Still a Buy?

Nio Inc – (NYSE:NIO)’s stock price traded up 1.7% on Monday . The company traded as high as $4.42 and last traded at $4.37. 18,812,365 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 40,866,031 shares. The stock had previously closed at $4.29.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and reduced their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two equities research 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.71.

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 business has a 50-day moving average price of $4.46 and a two-hundred day moving average price of $4.77. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of -2.80 and a beta of 1.70.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ballentine Partners LLC grew its holdings in NIO by 11.5% during the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after purchasing an additional 2,482 shares during the last quarter. Atomi Financial Group Inc. boosted its holdings in shares of NIO by 15.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after buying an additional 2,588 shares during the period. Perigon Wealth Management LLC boosted its holdings in shares of NIO by 24.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock worth $61,000 after buying an additional 2,867 shares during the period. BSW Wealth Partners raised its holdings in NIO by 21.4% in the 4th quarter. BSW Wealth Partners now owns 20,423 shares of the company’s stock worth $89,000 after acquiring an additional 3,606 shares during the period. Finally, Blue Trust Inc. raised its holdings in NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after acquiring an additional 3,607 shares during the period. 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.