NIO (NYSE:NIO) Stock Price Up 1.6% – Still a Buy?

NIO Inc. (NYSE:NIO) rose 1.6% on Tuesday . The company traded as high as $4.72 and last traded at $4.6950. 23,045,922 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 38,681,508 shares. The stock had previously closed at $4.62.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NIO. Bank of America reiterated a “neutral” rating and set a $6.80 price target on shares of NIO in a research report on Thursday, May 21st. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. The Goldman Sachs Group raised shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Monday, July 13th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $6.00 target price on shares of NIO in a research report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and a consensus target price of $6.70.

NIO Price Performance

The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01. The stock has a market capitalization of $11.66 billion, a P/E ratio of -8.54 and a beta of 0.90. The firm has a 50-day moving average price of $5.13 and a 200 day moving average price of $5.36.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Atlantic Union Bankshares Corp lifted its holdings in shares of NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after acquiring an additional 2,950 shares during the last quarter. Arax Advisory Partners grew its holdings in shares of NIO by 81.6% during the 4th 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 last quarter. Eurizon Capital SGR S.p.A. purchased a new position in NIO in the 4th quarter worth $41,000. Merkkuri Wealth Advisors LLC bought a new stake in NIO in the first quarter worth $41,000. Finally, MV Capital Management Inc. purchased a new stake in NIO during the fourth quarter valued at about $42,000. 48.55% of the stock is owned by hedge funds and other 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.