NIO (NYSE:NIO) Trading 2.1% Higher – Time to Buy?

NIO Inc. (NYSE:NIO)’s share price shot up 2.1% on Wednesday . The stock traded as high as $5.08 and last traded at $5.0650. 29,712,298 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 47,873,145 shares. The stock had previously closed at $4.96.

Wall Street Analyst Weigh In

NIO has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. Macquarie Infrastructure raised NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price objective for the company in a research report on Thursday, January 15th. UBS Group downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. The Goldman Sachs Group restated a “neutral” rating and issued a $7.00 target price on shares of NIO in a research note on Thursday, October 30th. Finally, Citigroup cut their price target 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. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, NIO currently has a consensus rating of “Hold” and a consensus price target of $6.83.

NIO Stock Performance

The company has a market capitalization of $10.57 billion, a PE ratio of -3.49 and a beta of 1.10. 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 fifty day simple moving average is $4.86 and its 200-day simple moving average is $5.77.

Hedge Funds Weigh In On NIO

Hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its stake 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 acquiring an additional 2,877 shares during the last quarter. Atlantic Union Bankshares Corp grew its stake in NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after acquiring an additional 2,950 shares during the period. Allworth Financial LP lifted its stake in shares of 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 purchasing an additional 4,269 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of NIO during the 4th quarter worth $41,000. Finally, Aries Wealth Management acquired a new stake in shares of NIO during the third quarter worth $76,000. Hedge funds and other 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.