NIO (NYSE:NIO) Trading Up 7.1% – Here’s Why

NIO Inc. (NYSE:NIO)’s stock price was up 7.1% during trading on Monday . The stock traded as high as $5.83 and last traded at $5.8150. Approximately 48,747,576 shares were traded during trading, an increase of 5% from the average daily volume of 46,568,172 shares. The stock had previously closed at $5.43.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NIO shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. Barclays raised their target price on NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 28th. Nomura raised NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price on the stock in a report on Wednesday, March 11th. UBS Group lowered NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Dbs Bank raised NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, NIO presently has a consensus rating of “Hold” and a consensus target price of $6.80.

NIO Stock Performance

The company has a debt-to-equity ratio of 2.08, a current ratio of 0.98 and a quick ratio of 0.87. The company’s 50-day moving average price is $4.98 and its two-hundred day moving average price is $5.75. The company has a market capitalization of $13.36 billion, a price-to-earnings ratio of -5.99 and a beta of 1.11.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently modified their holdings of NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of NIO by 3,966.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock worth $20,255,000 after buying an additional 5,185,565 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of NIO by 56.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 28,299 shares of the company’s stock worth $97,000 after purchasing an additional 10,210 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of NIO by 5.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 762,362 shares of the company’s stock worth $2,615,000 after purchasing an additional 36,348 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of NIO by 50.9% in the 2nd quarter. Franklin Resources Inc. now owns 17,707 shares of the company’s stock valued at $61,000 after buying an additional 5,974 shares during the period. Finally, Tableaux LLC acquired a new stake in shares of NIO in the 2nd quarter valued at about $82,000. 48.55% of the stock is currently owned by 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.