NIO (NYSE:NIO) Trading 1.5% Higher Following Analyst Upgrade

NIO Inc. (NYSE:NIO)’s share price was up 1.5% during mid-day trading on Friday after Macquarie upgraded the stock from a neutral rating to an outperform rating. Macquarie now has a $6.10 price target on the stock. NIO traded as high as $4.72 and last traded at $4.71. Approximately 28,551,928 shares traded hands during trading, a decline of 33% from the average daily volume of 42,439,238 shares. The stock had previously closed at $4.64.

Other analysts have also issued research reports about the stock. Barclays raised their target price 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 reissued a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. UBS Group cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Citigroup dropped their price objective on shares of NIO from $8.60 to $6.90 and set a “buy” rating for the company in a report on Wednesday, November 26th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $7.00 price target on shares of NIO in a research note on Thursday, October 30th. 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. According to MarketBeat, NIO currently has an average rating of “Hold” and a consensus target price of $6.83.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in NIO by 148.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after buying an additional 2,877 shares during the period. Hedeker Wealth LLC bought a new stake in NIO during the 2nd quarter valued at $43,000. Allworth Financial LP lifted its position in shares of NIO by 183.5% during the third quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock worth $50,000 after acquiring an additional 4,269 shares in the last quarter. Sandbox Financial Partners LLC bought a new position in shares of NIO in the fourth quarter worth $51,000. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of NIO in the second quarter valued at $56,000. Institutional investors own 48.55% of the company’s stock.

NIO Price Performance

The business has a fifty day moving average of $5.29 and a 200-day moving average of $5.67. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 2.36. The firm has a market cap of $9.83 billion, a PE ratio of -3.25 and a beta of 1.05.

NIO Company Profile

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.