NIO (NYSE:NIO) Trading Up 5.4% – Time to Buy?

Nio Inc – (NYSE:NIO)’s share price was up 5.4% during mid-day trading on Friday . The stock traded as high as $4.42 and last traded at $4.39. Approximately 21,830,946 shares were traded during trading, a decline of 47% from the average daily volume of 40,854,066 shares. The stock had previously closed at $4.16.

Analyst Upgrades and Downgrades

NIO has been the topic of a number of recent analyst reports. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Daiwa America upgraded NIO to a “strong-buy” rating in a research note on Monday, September 30th. Finally, The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.71.

NIO Stock Performance

The stock’s fifty day simple moving average is $4.51 and its two-hundred day simple moving average is $4.79. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Hedge Funds Weigh In On NIO

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in shares of NIO during the third quarter valued at approximately $32,000. AE Wealth Management LLC bought a new position in NIO during the 2nd quarter worth $75,000. First Trust Direct Indexing L.P. bought a new position in NIO during the 3rd quarter worth $76,000. Apollon Wealth Management LLC acquired a new stake in NIO in the third quarter worth $78,000. Finally, Sivia Capital Partners LLC bought a new stake in NIO in the third quarter valued at $92,000. Institutional investors 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.