NIO (NYSE:NIO) Stock Price Up 1.2% – Time to Buy?

NIO Inc. (NYSE:NIO) shares shot up 1.2% on Thursday . The company traded as high as $5.93 and last traded at $5.8870. 29,821,366 shares were traded during mid-day trading, a decline of 36% from the average session volume of 46,405,570 shares. The stock had previously closed at $5.82.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Dbs Bank upgraded shares of NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday. Bank of America reaffirmed a “neutral” rating on shares of NIO in a report on Tuesday, March 10th. Barclays upped their price objective on NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 28th. Citigroup cut their target price on NIO from $8.60 to $6.90 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Finally, Nomura upgraded NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price for the company in a research note on Wednesday, March 11th. Seven equities 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 company’s stock. Based on data from MarketBeat, NIO presently has a consensus rating of “Hold” and an average target price of $6.80.

NIO Trading Up 1.2%

The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $13.53 billion, a PE ratio of -6.07 and a beta of 1.11. The business’s 50-day moving average is $4.94 and its two-hundred day moving average is $5.77.

Institutional Trading of NIO

A number of large investors have recently made changes to their positions in NIO. Farther Finance Advisors LLC increased its position in NIO by 148.3% during the third quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after buying an additional 2,877 shares during the period. Atlantic Union Bankshares Corp boosted its holdings in shares of NIO by 98.3% in the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after acquiring an additional 2,950 shares during the period. Allworth Financial LP boosted its holdings in shares of NIO by 183.5% in the third quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock valued at $50,000 after acquiring an additional 4,269 shares during the period. Arax Advisory Partners grew its position in shares of NIO by 81.6% during the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock worth $40,000 after acquiring an additional 3,487 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of NIO during the fourth quarter worth approximately $41,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.