NIO (NYSE:NIO) Trading 2.8% Higher – Here’s What Happened

NIO Inc. (NYSE:NIO)’s share price traded up 2.8% during trading on Monday . The company traded as high as $4.63 and last traded at $4.6150. Approximately 22,329,329 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 38,776,461 shares. The stock had previously closed at $4.49.

Wall Street Analyst Weigh In

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

NIO Stock Up 2.8%

The firm has a market capitalization of $11.46 billion, a price-to-earnings ratio of -8.39 and a beta of 0.90. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90. The business has a fifty day moving average price of $5.16 and a two-hundred day moving average price of $5.36.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently bought and sold shares of NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in NIO by 3,966.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock worth $20,255,000 after buying an additional 5,185,565 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of NIO by 50.9% in the 2nd quarter. Franklin Resources Inc. now owns 17,707 shares of the company’s stock valued at $61,000 after acquiring an additional 5,974 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of NIO by 22.7% in the 2nd quarter. Invesco Ltd. now owns 2,738,308 shares of the company’s stock valued at $9,392,000 after acquiring an additional 506,618 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of NIO by 67.4% in the 2nd quarter. First Trust Advisors LP now owns 73,280 shares of the company’s stock valued at $251,000 after acquiring an additional 29,501 shares during the last quarter. Finally, AXA S.A. acquired a new stake in shares of NIO in the second quarter worth $64,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.