NIO (NYSE:NIO) Shares Up 2.9% – Should You Buy?

NIO Inc. (NYSE:NIO) rose 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 traded hands during trading, a decline of 22% from the average daily volume of 44,483,227 shares. The stock had previously closed at $4.93.

Analyst Upgrades and Downgrades

NIO has been the subject of a number of recent analyst reports. 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 note on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. UBS Group downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. The Goldman Sachs Group restated a “neutral” rating and set a $7.00 price objective on shares of NIO in a report on Thursday, October 30th. Finally, Citigroup lowered their target price on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a report on Wednesday, November 26th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and an average target price of $6.83.

NIO Price Performance

The firm has a market capitalization of $10.59 billion, a PE ratio of -3.50 and a beta of 1.10. The stock’s 50 day simple moving average is $4.85 and its two-hundred day simple moving average is $5.77. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.94.

Institutional Trading of NIO

Hedge funds have recently modified their holdings of the stock. Aspex Management HK Ltd purchased a new position in shares of NIO in the 3rd quarter valued at about $266,700,000. WT Asset Management Ltd purchased a new stake in shares of NIO in the 3rd quarter valued at approximately $142,120,000. Ghisallo Capital Management LLC acquired a new stake in shares of NIO in the 3rd quarter valued at $91,440,000. Voloridge Investment Management LLC purchased a new stake in shares of NIO during the 3rd quarter worth $89,952,000. Finally, RWC Asset Advisors US LLC purchased a new stake in shares of NIO during the 3rd quarter worth $79,761,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.