NIO (NYSE:NIO) Shares Up 3.9% – Time to Buy?

Shares of NIO Inc. (NYSE:NIO) were up 3.9% on Monday . The company traded as high as $4.98 and last traded at $4.9650. Approximately 43,077,427 shares changed hands during trading, a decline of 1% from the average daily volume of 43,420,258 shares. The stock had previously closed at $4.78.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. 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 report on Wednesday, November 26th. Barclays increased their price target on shares of NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. Macquarie Infrastructure raised NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price objective on the stock in a research note on Thursday, January 15th. Finally, UBS Group cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Four 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.83.

NIO Price Performance

The company has a debt-to-equity ratio of 2.36, a current ratio of 0.94 and a quick ratio of 0.83. The business has a fifty day moving average of $4.85 and a 200 day moving average of $5.80. The stock has a market cap of $11.41 billion, a PE ratio of -3.42 and a beta of 1.11.

Institutional Trading of NIO

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aspex Management HK Ltd acquired a new stake in NIO during the 3rd quarter worth about $266,700,000. WT Asset Management Ltd acquired a new stake in shares of NIO in the third quarter worth $142,120,000. Voloridge Investment Management LLC lifted its position in shares of NIO by 14.4% during the 4th quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company’s stock worth $68,843,000 after purchasing an additional 1,694,023 shares during the last quarter. Ghisallo Capital Management LLC acquired a new stake in shares of NIO in the third quarter worth $91,440,000. Finally, RWC Asset Advisors US LLC acquired a new position in shares of NIO during the third quarter valued at about $79,761,000. 48.55% of the stock is currently 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.