NIO (NYSE:NIO) Stock Price Up 0.2% – Still a Buy?

Nio Inc – (NYSE:NIO)’s share price was up 0.2% during trading on Monday . The company traded as high as $4.57 and last traded at $4.52. Approximately 14,051,820 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 56,802,891 shares. The stock had previously closed at $4.51.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NIO shares. Bank of America lifted their target price on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Wolfe Research began coverage on NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $5.30 to $8.00 in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.71.

NIO Price Performance

The company has a market capitalization of $7.43 billion, a P/E ratio of -2.86 and a beta of 1.77. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The company’s 50-day moving average price is $4.98 and its two-hundred day moving average price is $4.82.

Hedge Funds Weigh In On NIO

Large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. grew its holdings in NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after buying an additional 4,018,659 shares in the last quarter. FMR LLC raised its stake in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd boosted its holdings in 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 purchasing an additional 538,907 shares during the period. Krane Funds Advisors LLC grew its position in shares of NIO by 31.7% during the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock worth $6,401,000 after purchasing an additional 370,556 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of NIO by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after buying an additional 343,910 shares in the last quarter. 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.