NIO (NYSE:NIO) Trading Up 3.8% – Should You Buy?

Shares of NIO Inc. (NYSE:NIO) rose 3.8% during mid-day trading on Thursday . The stock traded as high as $5.02 and last traded at $4.7650. Approximately 73,899,792 shares traded hands during mid-day trading, an increase of 73% from the average daily volume of 42,770,570 shares. The stock had previously closed at $4.59.

Analysts Set New Price Targets

NIO has been the topic of a number of recent research reports. UBS Group lowered NIO from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings restated a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. Barclays increased their target price on NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Friday, November 28th. Macquarie raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target on the stock in a research note on Thursday, January 15th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $7.00 target price on shares of NIO in a report on Thursday, October 30th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.83.

NIO Trading Down 1.3%

The business has a 50 day moving average of $4.96 and a 200-day moving average of $5.75. The stock has a market cap of $9.83 billion, a PE ratio of -3.25 and a beta of 1.05. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 2.36.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of NIO by 3,966.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock valued at $20,255,000 after buying an additional 5,185,565 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in NIO by 2.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 220,694 shares of the company’s stock valued at $757,000 after acquiring an additional 4,846 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of NIO by 125.2% during the 2nd quarter. Vontobel Holding Ltd. now owns 1,094,398 shares of the company’s stock worth $3,754,000 after purchasing an additional 608,377 shares during the period. WMG Financial Advisors LLC boosted its holdings in shares of NIO by 17.9% during the second quarter. WMG Financial Advisors LLC now owns 474,966 shares of the company’s stock worth $1,629,000 after purchasing an additional 72,170 shares during the last quarter. Finally, Redwood Wealth Management Group LLC grew its position in shares of NIO by 4.9% in the second quarter. Redwood Wealth Management Group LLC now owns 69,206 shares of the company’s stock valued at $237,000 after purchasing an additional 3,215 shares during the period. 48.55% of the stock is currently 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.