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

NIO Inc. (NYSE:NIO)’s share price gapped up before the market opened on Monday . The stock had previously closed at $5.31, but opened at $5.53. NIO shares last traded at $5.5350, with a volume of 13,706,810 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NIO. Macquarie Infrastructure upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 target price on the stock in a research note on Thursday, January 15th. HSBC raised shares of NIO from a “hold” rating to a “buy” rating and lifted their price target for the company from $4.80 to $6.80 in a report on Friday, March 13th. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. Finally, Bank of America restated a “neutral” rating on shares of NIO in a research report on Tuesday, March 10th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.80.

NIO Trading Up 3.3%

The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 2.08. The stock has a market cap of $12.60 billion, a P/E ratio of -5.68 and a beta of 1.11. The business’s fifty day simple moving average is $5.08 and its 200 day simple moving average is $5.74.

Institutional Trading of NIO

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC lifted its holdings in NIO by 48.8% during the 4th quarter. Hsbc Holdings PLC now owns 680,382 shares of the company’s stock worth $3,445,000 after buying an additional 223,178 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of NIO by 12.5% during the fourth quarter. Corient Private Wealth LLC now owns 61,129 shares of the company’s stock worth $312,000 after acquiring an additional 6,772 shares during the last quarter. MV Capital Management Inc. bought a new stake in shares of NIO during the fourth quarter worth $42,000. Compound Planning Inc. lifted its stake in shares of NIO by 12.9% during the fourth quarter. Compound Planning Inc. now owns 41,449 shares of the company’s stock valued at $211,000 after acquiring an additional 4,721 shares during the period. Finally, Invesco Ltd. boosted its holdings in NIO by 47.8% in the fourth quarter. Invesco Ltd. now owns 3,997,775 shares of the company’s stock valued at $20,389,000 after acquiring an additional 1,292,715 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.