NIO (NYSE:NIO) Stock Price Up 1.3% – Should You Buy?

NIO Inc. (NYSE:NIO)’s stock price rose 1.3% during mid-day trading on Monday . The company traded as high as $4.82 and last traded at $4.80. Approximately 17,692,452 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 37,790,855 shares. The stock had previously closed at $4.74.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America reaffirmed a “neutral” rating and set a $6.80 price objective on shares of NIO in a research note on Thursday, May 21st. Sanford C. Bernstein reissued a “market perform” rating and issued a $6.00 target price on shares of NIO in a research report on Friday, May 22nd. Zacks Research upgraded shares of NIO from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group raised shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.70.

NIO Stock Up 1.3%

The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01. The firm has a market cap of $11.92 billion, a PE ratio of -8.73 and a beta of 0.91. The stock has a fifty day moving average price of $5.00 and a 200-day moving average price of $5.36.

Institutional Investors Weigh In On NIO

Several institutional investors have recently bought and sold shares of NIO. Renaissance Technologies LLC lifted its holdings in shares of NIO by 70.2% during the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock valued at $87,146,000 after acquiring an additional 5,962,731 shares in the last quarter. Bank of America Corp DE increased its holdings in NIO by 99.0% in the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock valued at $85,800,000 after purchasing an additional 7,079,903 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in NIO by 14.4% in the 4th quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company’s stock valued at $68,843,000 after purchasing an additional 1,694,023 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in NIO by 3,966.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock valued at $20,255,000 after purchasing an additional 5,185,565 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of NIO by 67.2% during the first quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company’s stock worth $30,314,000 after purchasing an additional 2,020,754 shares in the last quarter. 48.55% of the stock is currently 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.