NIO (NYSE:NIO) Trading 4.2% Higher – What’s Next?

NIO Inc. (NYSE:NIO)’s share price was up 4.2% on Friday . The company traded as high as $5.15 and last traded at $5.1150. Approximately 47,766,928 shares were traded during trading, a decline of 17% from the average daily volume of 57,832,645 shares. The stock had previously closed at $4.91.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NIO shares. Bank of America upped their price objective on NIO from $5.00 to $7.10 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of NIO in a report on Monday. UBS Group downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Citigroup cut their price objective on shares of NIO from $8.60 to $6.90 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $7.00 price objective on shares of NIO in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.73.

NIO Price 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 firm has a market cap of $10.68 billion, a price-to-earnings ratio of -3.53 and a beta of 1.04. The company’s 50-day moving average price is $5.92 and its 200-day moving average price is $5.52.

Hedge Funds Weigh In On NIO

Large investors have recently bought and sold shares of the company. Aspex Management HK Ltd purchased a new stake in NIO during the third quarter worth about $266,700,000. WT Asset Management Ltd purchased a new stake in shares of NIO during the third quarter worth about $142,120,000. Ghisallo Capital Management LLC acquired a new position in NIO in the 3rd quarter valued at $91,440,000. Voloridge Investment Management LLC purchased a new position in NIO during the third quarter worth about $89,952,000. Finally, RWC Asset Advisors US LLC purchased a new position in shares of NIO during the 3rd quarter worth about $79,761,000. 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.