NIO (NYSE:NIO) Shares Up 3.8% – Should You Buy?

Shares of NIO Inc. (NYSE:NIO) traded up 3.8% during trading on Thursday . The stock traded as high as $5.02 and last traded at $4.7650. 73,899,792 shares traded hands during mid-day trading, an increase of 73% from the average session volume of 42,770,570 shares. The stock had previously closed at $4.59.

Analyst Ratings Changes

Several research analysts recently weighed in on NIO shares. Barclays boosted their price target on shares of NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Friday, November 28th. UBS Group lowered NIO from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Citigroup decreased their price target on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a research report on Wednesday, November 26th. The Goldman Sachs Group reissued a “neutral” rating and issued a $7.00 price objective on shares of NIO in a research report on Thursday, October 30th. Finally, Macquarie raised NIO from a “neutral” rating to an “outperform” rating and set a $6.10 target price for the company in a research report on Thursday, January 15th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, NIO presently has an average rating of “Hold” and an average target price of $6.83.

NIO Price Performance

The business’s 50-day simple moving average is $4.99 and its two-hundred day simple moving average is $5.75. 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 has a market cap of $9.95 billion, a P/E ratio of -3.29 and a beta of 1.05.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NIO. Farther Finance Advisors LLC increased its position in shares of 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 buying an additional 2,877 shares during the period. Allworth Financial LP increased its holdings in 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 acquiring an additional 4,269 shares during the period. Aries Wealth Management purchased a new stake in NIO in the 3rd quarter worth approximately $76,000. Concurrent Investment Advisors LLC purchased a new stake in NIO in the 3rd quarter worth approximately $77,000. Finally, Strategies Wealth Advisors LLC bought a new position in NIO in the 3rd quarter valued at $77,000. Hedge funds and other 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.