NIO (NYSE:NIO) Trading 2% Higher – What’s Next?

NIO Inc. (NYSE:NIO) traded up 2% during mid-day trading on Monday . The stock traded as high as $4.61 and last traded at $4.61. 16,974,316 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 37,571,977 shares. The stock had previously closed at $4.52.

Analyst Upgrades and Downgrades

NIO has been the subject of several research reports. Zacks Research upgraded NIO from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. The Goldman Sachs Group upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Monday, July 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a research note on Wednesday, July 29th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $6.00 price objective on shares of NIO in a research note on Friday, May 22nd. Finally, Bank of America reissued a “neutral” rating and issued a $6.80 target price on shares of NIO in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.70.

NIO Price Performance

The stock’s 50 day moving average is $4.85 and its two-hundred day moving average is $5.36. The stock has a market capitalization of $11.24 billion, a PE ratio of -8.23 and a beta of 0.91. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in NIO by 25.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 451,100 shares of the company’s stock valued at $2,283,000 after acquiring an additional 92,114 shares during the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of NIO during the second quarter worth about $34,000. Global Retirement Partners LLC purchased a new stake in shares of NIO in the 2nd quarter valued at about $34,000. Focus Partners Advisor Solutions LLC boosted its position in shares of NIO by 17.5% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 29,605 shares of the company’s stock valued at $150,000 after purchasing an additional 4,406 shares during the period. Finally, HighTower Advisors LLC grew its stake in NIO by 15.7% during the 2nd quarter. HighTower Advisors LLC now owns 68,866 shares of the company’s stock worth $348,000 after buying an additional 9,357 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.