NIO (NYSE:NIO) Shares Gap Up – What’s Next?

NIO Inc. (NYSE:NIO)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $4.44, but opened at $4.78. NIO shares last traded at $4.6350, with a volume of 47,089,087 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays upped their target price on NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Friday, November 28th. Macquarie upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price objective for the company in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. Citigroup reduced their price objective on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Finally, UBS Group downgraded shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Four 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.83.

NIO Stock Performance

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 business has a 50 day moving average price of $4.89 and a 200 day moving average price of $5.76. The stock has a market cap of $10.13 billion, a P/E ratio of -3.34 and a beta of 1.10.

Institutional Trading of NIO

Hedge funds have recently modified their holdings of the company. Aspex Management HK Ltd acquired a new position in shares of NIO in the 3rd quarter valued at about $266,700,000. WT Asset Management Ltd purchased a new position in NIO in the 3rd quarter valued at $142,120,000. Ghisallo Capital Management LLC purchased a new position in shares of NIO in the third quarter worth about $91,440,000. Voloridge Investment Management LLC acquired a new position in NIO during the third quarter worth about $89,952,000. Finally, RWC Asset Advisors US LLC purchased a new stake in NIO during the 3rd quarter valued at about $79,761,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.