NIO (NYSE:NIO) Trading 1.7% Higher – Should You Buy?
NIO Inc. (NYSE: NIO) saw its stock price increase by 1.7% on Wednesday, reaching a high of $4.52 and closing at $4.44.
- The stock had a trading volume of 18,425,814 shares, which was 57% lower than the average volume of 43,335,148 shares.
- The stock had previously closed at $4.36, marking a slight upward movement.
Wall Street Analyst Weigh In
Several brokerages have recently issued opinions on NIO.
- Macquarie downgraded the stock from “outperform” to “neutral” and lowered their target price from $6.60 to $4.80 on November 20th.
- HSBC also lowered their rating from “buy” to “hold” on January 7th.
- JPMorgan Chase & Co. downgraded NIO from “overweight” to “neutral”, cutting the price target from $7.00 to $4.70 on February 4th.
- Goldman Sachs lowered their rating from “neutral” to “sell”, reducing the target price from $4.80 to $3.90 on November 25th.
- Overall, two analysts rate the stock sell, ten have a hold rating, one has a buy rating, and one has given a strong buy.
- The company currently holds an average rating of “Hold” with a consensus price target of $5.38.
NIO Trading Down 0.3%
NIO’s market capitalization is $9.13 billion, with a P/E ratio of -2.90 and a beta of 1.68, indicating moderate volatility.
- The stock has a 50-day moving average of $4.35 and a 200-day moving average of $4.75.
- NIO’s current ratio is 1.04, quick ratio is 0.93, and the debt-to-equity ratio stands at 0.98, showing moderate financial leverage.
Institutional Investors Weigh In On NIO
Several large institutional investors have adjusted their holdings in NIO recently.
- Allspring Global Investments Holdings LLC purchased a new stake in the 3rd quarter worth about $32,000.
- Blue Trust Inc. increased its holdings by 138.5% in the 4th quarter, now owning 6,212 shares, valued at $27,000.
- Jones Financial Companies Lllp also raised its stake by 131.8%, now owning 7,619 shares worth $33,000.
- Sava Infond d.o.o. and Callan Family Office LLC both acquired new stakes in the 4th quarter, each worth around $44,000.
- Institutional investors and hedge funds now own 48.55% of NIO’s stock.
NIO Company Profile
NIO Inc. is a leading manufacturer of electric vehicles based in China.
- The company also engages in producing e-powertrains, battery packs, and related components, along with providing battery charging solutions and other value-added services.
- Additionally, NIO is involved in racing management and the development and sales of technology for its vehicles.