NIO (NYSE:NIO) Trading Up 2.9% – Still a Buy?

Nio Inc – (NYSE:NIOGet Free Report)’s share price was up 2.9% during trading on Tuesday . The stock traded as high as $4.66 and last traded at $4.61. Approximately 12,982,673 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 56,311,289 shares. The stock had previously closed at $4.48.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NIO shares. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Wolfe Research began coverage on shares of NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Bank of America raised their price target on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. The Goldman Sachs Group cut 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. Finally, Citigroup lowered their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.71.

View Our Latest Report on NIO

NIO Trading Up 3.1 %

The company has a market cap of $7.94 billion, a P/E ratio of -3.06 and a beta of 1.77. The firm has a 50-day moving average of $4.85 and a 200 day moving average of $4.80. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Institutional Trading of NIO

Large investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in NIO by 140.2% in the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock worth $502,000 after purchasing an additional 43,839 shares during the period. Garden State Investment Advisory Services LLC acquired a new stake in shares of NIO in the 3rd quarter valued at about $374,000. Tidal Investments LLC increased its position in NIO by 2.4% in the 3rd quarter. Tidal Investments LLC now owns 280,140 shares of the company’s stock valued at $1,871,000 after buying an additional 6,545 shares in the last quarter. Sanctuary Advisors LLC raised its stake in NIO by 63.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company’s stock worth $553,000 after buying an additional 32,069 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after acquiring an additional 132,237 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

About NIO

(Get Free Report)

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.

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