NIO (NYSE:NIO) Trading 2.1% Higher – Still a Buy?

NIO Inc. (NYSE:NIO) shares rose 2.1% during mid-day trading on Thursday . The stock traded as high as $4.90 and last traded at $4.77. Approximately 45,668,733 shares traded hands during trading, an increase of 6% from the average daily volume of 43,083,898 shares. The stock had previously closed at $4.67.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NIO shares. Weiss Ratings restated a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. Barclays boosted their price objective on shares of NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Friday, November 28th. Citigroup lowered their target price 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. Macquarie upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 target price on the stock in a report on Thursday, January 15th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $7.00 price target on shares of NIO in a report on Thursday, October 30th. Four investment 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 currently has an average rating of “Hold” and an average price target of $6.83.

NIO Stock Performance

The firm’s fifty day moving average price is $5.13 and its 200-day moving average price is $5.72. The company has a market cap of $9.96 billion, a P/E ratio of -3.29 and a beta of 1.05. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 2.36.

Institutional Trading of NIO

Several institutional investors have recently modified their holdings of the company. 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 purchasing an additional 2,877 shares during the period. Hedeker Wealth LLC bought a new stake in NIO in the 2nd quarter valued at $43,000. Allworth Financial LP raised its stake in shares of NIO by 183.5% in the 3rd quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock valued at $50,000 after buying an additional 4,269 shares in the last quarter. Sandbox Financial Partners LLC acquired a new position in shares of NIO in the 4th quarter valued at $51,000. Finally, SeaCrest Wealth Management LLC bought a new position in shares of NIO during the 2nd quarter worth about $56,000. Institutional investors and hedge funds 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.