NIO (NYSE:NIO) Trading Up 2.9% – Here’s What Happened

NIO Inc. (NYSE:NIO)’s stock price was up 2.9% during trading on Friday . The stock traded as high as $5.13 and last traded at $5.0750. Approximately 34,708,752 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 44,483,227 shares. The stock had previously closed at $4.93.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NIO shares. Citigroup decreased their price objective on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a report on Wednesday, November 26th. UBS Group lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Barclays upped their price objective on shares of NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 28th. The Goldman Sachs Group restated a “neutral” rating and issued a $7.00 target price on shares of NIO in a research report on Thursday, October 30th. Finally, Macquarie Infrastructure raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target for the company in a research report on Thursday, January 15th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, NIO has a consensus rating of “Hold” and an average target price of $6.83.

NIO Stock Up 2.9%

The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.94. The company’s 50-day moving average price is $4.85 and its 200 day moving average price is $5.77. The stock has a market capitalization of $10.59 billion, a P/E ratio of -3.50 and a beta of 1.10.

Hedge Funds Weigh In On NIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp raised its position in shares of NIO by 98.3% during the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after buying an additional 2,950 shares in the last quarter. Farther Finance Advisors LLC increased its stake in NIO by 148.3% during the third quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after acquiring an additional 2,877 shares during the last quarter. Arax Advisory Partners raised its position in NIO by 81.6% during the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after purchasing an additional 3,487 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of NIO in the 4th quarter valued at approximately $41,000. Finally, Hedeker Wealth LLC purchased a new position in shares of NIO in the 2nd quarter worth approximately $43,000. 48.55% of the stock is owned by institutional investors.

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.