NIO (NYSE:NIO) Trading Up 2.1% – Here’s Why

NIO Inc. (NYSE:NIO)’s share price traded up 2.1% during mid-day trading on Thursday . The stock traded as high as $4.90 and last traded at $4.77. 45,668,733 shares traded hands during mid-day trading, an increase of 6% from the average session volume of 43,083,898 shares. The stock had previously closed at $4.67.

Analysts Set New Price Targets

Several research firms have recently weighed in on NIO. Macquarie raised NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price objective for the company in a research note on Thursday, January 15th. The Goldman Sachs Group reissued a “neutral” rating and issued a $7.00 price target on shares of NIO in a research note on Thursday, October 30th. Citigroup decreased their target price on shares of NIO from $8.60 to $6.90 and set a “buy” rating for the company in a report on Wednesday, November 26th. Weiss Ratings restated a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. Finally, Barclays raised their price objective on shares of NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Friday, November 28th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.83.

NIO Price Performance

The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of -3.29 and a beta of 1.05. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 2.36. The stock’s 50 day moving average price is $5.13 and its two-hundred day moving average price is $5.72.

Institutional Investors Weigh In On NIO

Several large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in NIO by 148.3% in the third quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after acquiring an additional 2,877 shares in the last quarter. Allworth Financial LP boosted its holdings in NIO by 183.5% in the third quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock worth $50,000 after purchasing an additional 4,269 shares in the last quarter. Aries Wealth Management bought a new stake in NIO in the third quarter worth $76,000. Concurrent Investment Advisors LLC acquired a new position in NIO during the third quarter worth $77,000. Finally, Strategies Wealth Advisors LLC bought a new position in NIO during the third quarter valued at about $77,000. Institutional investors 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.