NIO (NYSE:NIO) Upgraded by Macquarie to Outperform Rating

NIO (NYSE:NIO) was upgraded by analysts at Macquarie from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Thursday,Finviz reports. The brokerage currently has a $6.10 target price on the stock. Macquarie’s price objective would suggest a potential upside of 31.04% from the stock’s current price.

Several other research firms also recently weighed in on NIO. Weiss Ratings reissued a “sell (d-)” rating on shares of NIO in a research report on Monday, December 29th. Mizuho lifted their price objective on shares of NIO from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Barclays boosted their target price on shares of NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Friday, November 28th. UBS Group cut NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $7.00 price target on shares of NIO in a research report on Thursday, October 30th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.83.

NIO Price Performance

NIO traded up $0.10 on Thursday, reaching $4.66. The company had a trading volume of 19,361,184 shares, compared to its average volume of 43,110,840. The company has a market capitalization of $9.72 billion, a P/E ratio of -3.22 and a beta of 1.05. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 2.36. The company has a fifty day moving average of $5.34 and a 200-day moving average of $5.67. NIO has a one year low of $3.02 and a one year high of $8.02.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NIO. Farther Finance Advisors LLC boosted its holdings in NIO by 148.3% during the third quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock valued at $37,000 after acquiring an additional 2,877 shares during the period. Hedeker Wealth LLC acquired a new position in shares of NIO during the 2nd quarter worth about $43,000. Allworth Financial LP lifted its position in shares of NIO by 183.5% during the 3rd quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock worth $50,000 after purchasing an additional 4,269 shares during the last quarter. Sandbox Financial Partners LLC bought a new stake in NIO during the 4th quarter valued at approximately $51,000. Finally, SeaCrest Wealth Management LLC bought a new stake in NIO during the 2nd quarter valued at approximately $56,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Company Profile

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.