NIO (NYSE:NIO) Shares Up 12.4% – Should You Buy?

Nio Inc – (NYSE:NIO)’s share price shot up 12.4% during mid-day trading on Monday . The stock traded as high as $5.36 and last traded at $5.18. 61,526,512 shares traded hands during mid-day trading, an increase of 8% from the average session volume of 56,796,141 shares. The stock had previously closed at $4.61.

Analysts Set New Price Targets

Several research analysts have weighed in on NIO shares. Daiwa America raised shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Citigroup decreased their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $5.30 to $8.00 in a research 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 assigned a strong buy rating to the stock. According to MarketBeat, NIO currently has an average rating of “Hold” and a consensus price target of $5.71.

NIO Price Performance

The company has a market capitalization of $8.25 billion, a P/E ratio of -3.16 and a beta of 1.77. The business’s 50-day simple moving average is $5.20 and its 200 day simple moving average is $4.84. 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

Hedge funds have recently made changes to their positions in the business. Cetera Advisors LLC increased its position in shares of NIO by 26.2% in the first quarter. Cetera Advisors LLC now owns 33,671 shares of the company’s stock worth $152,000 after acquiring an additional 6,981 shares in the last quarter. CWM LLC increased its position in shares of NIO by 16.0% in the second quarter. CWM LLC now owns 24,399 shares of the company’s stock worth $102,000 after acquiring an additional 3,371 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of NIO by 122.9% in the second quarter. Sequoia Financial Advisors LLC now owns 32,722 shares of the company’s stock worth $136,000 after acquiring an additional 18,039 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of NIO by 11.2% during the second quarter. 180 Wealth Advisors LLC now owns 103,306 shares of the company’s stock worth $430,000 after purchasing an additional 10,413 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of NIO during the second quarter worth approximately $53,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Company Profile

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.