NIO (NYSE:NIO) Trading 2.4% Higher – Here’s Why

NIO Inc. (NYSE:NIO) shot up 2.4% on Wednesday . The company traded as high as $4.70 and last traded at $4.67. 43,122,078 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 42,854,012 shares. The stock had previously closed at $4.56.

Analysts Set New Price Targets

NIO has been the subject of several recent research reports. Mizuho boosted their price target on NIO from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $7.00 price target on shares of NIO in a research report on Thursday, October 30th. Citigroup cut their price objective on NIO from $8.60 to $6.90 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Macquarie upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price objective on the stock in a research note on Thursday, January 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, NIO currently has a consensus rating of “Hold” and an average target price of $6.83.

NIO Stock Up 2.4%

The firm has a market capitalization of $9.75 billion, a PE ratio of -3.22 and a beta of 1.05. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.94. The company’s 50 day simple moving average is $5.13 and its 200-day simple moving average is $5.72.

Institutional Trading of NIO

Institutional investors and hedge funds have recently modified their holdings of the business. Westfuller Advisors LLC bought a new position in shares of NIO in the fourth quarter worth about $60,000. Azzad Asset Management Inc. ADV grew its position in NIO by 25.6% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 24,992 shares of the company’s stock valued at $127,000 after acquiring an additional 5,094 shares during the last quarter. Trueblood Wealth Management LLC boosted its position in NIO by 35.2% in the 4th quarter. Trueblood Wealth Management LLC now owns 19,412 shares of the company’s stock valued at $99,000 after buying an additional 5,055 shares during the period. SOA Wealth Advisors LLC. bought a new position in NIO during the 4th quarter worth about $155,000. Finally, Vanguard Capital Wealth Advisors purchased a new position in NIO in the fourth quarter valued at about $64,000. Institutional investors own 48.55% of the company’s stock.

About NIO

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.