NIO (NYSE:NIO) Trading 1.8% Higher – Here’s What Happened

NIO Inc. (NYSE:NIO) shares traded up 1.8% during trading on Tuesday . The stock traded as high as $5.07 and last traded at $4.98. 31,665,980 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 48,538,820 shares. The stock had previously closed at $4.89.

Analysts Set New Price Targets

NIO has been the subject of a number of analyst reports. UBS Group lowered NIO from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. The Goldman Sachs Group reissued a “neutral” rating and set a $7.00 price objective on shares of NIO in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. Macquarie Infrastructure raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target on the stock in a report on Thursday, January 15th. Finally, Citigroup cut their price objective on shares of NIO from $8.60 to $6.90 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.83.

NIO Stock Performance

The company’s 50-day moving average is $4.86 and its two-hundred day moving average is $5.77. The company has a market capitalization of $10.39 billion, a P/E ratio of -3.43 and a beta of 1.10. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 2.36.

Institutional Investors Weigh In On NIO

Several hedge funds have recently added to or reduced their stakes in NIO. Farther Finance Advisors LLC boosted its stake in shares of NIO by 148.3% in the 3rd 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 in the last quarter. Atlantic Union Bankshares Corp lifted its stake in NIO by 98.3% in the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after purchasing an additional 2,950 shares during the last quarter. Allworth Financial LP lifted its stake in NIO by 183.5% in the third quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock worth $50,000 after purchasing an additional 4,269 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in NIO during the fourth quarter valued at about $41,000. Finally, Aries Wealth Management bought a new position in shares of NIO during the third quarter valued at about $76,000. 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.