NIO (NYSE:NIO) Shares Gap Up – Time to Buy?

by · The Markets Daily

Nio Inc – (NYSE:NIO – Get Free Report)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $4.46, but opened at $4.75. NIO shares last traded at $4.85, with a volume of 22,359,445 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NIO shares. The Goldman Sachs Group downgraded 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. HSBC cut NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and cut their price target for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIO has an average rating of “Hold” and a consensus price target of $5.30.

Get Our Latest Stock Report on NIO

NIO Trading Up 9.3 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The company has a market capitalization of $10.17 billion, a P/E ratio of -3.23 and a beta of 1.81. The company has a 50-day simple moving average of $4.33 and a 200 day simple moving average of $4.81.

Institutional Investors Weigh In On NIO

Several hedge funds have recently made changes to their positions in NIO. 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 valued at $27,000 after acquiring an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after purchasing an additional 4,332 shares in the last quarter. Sava Infond d.o.o. acquired a new stake in NIO during the fourth quarter worth $44,000. Callan Family Office LLC acquired a new position in shares of NIO in the 4th quarter valued at $44,000. Finally, Trilogy Capital Inc. bought a new stake in NIO in the fourth quarter valued at about $45,000. Institutional investors own 48.55% of the company’s stock.

NIO Company Profile

(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.

Recommended Stories