NIO (NYSE:NIO) Trading 1.8% Higher – Still a Buy?

NIO Inc. (NYSE:NIO) shares traded up 1.8% during trading on Tuesday . The stock traded as high as $5.07 and last traded at $4.98. 31,665,980 shares were traded during mid-day trading, a decline of 35% from the average session volume of 48,538,820 shares. The stock had previously closed at $4.89.

Analysts Set New Price Targets

Several brokerages recently weighed in on NIO. Citigroup dropped their target price on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a report on Wednesday, November 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. UBS Group downgraded shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Barclays increased their price target 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. Finally, Macquarie Infrastructure raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target on the stock in a report on Thursday, January 15th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, NIO presently has a consensus rating of “Hold” and a consensus price target of $6.83.

NIO Stock Up 1.8%

The stock has a 50 day simple moving average of $4.86 and a 200-day simple moving average of $5.77. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.94 and a quick ratio of 0.83. The firm has a market cap of $10.39 billion, a PE ratio of -3.43 and a beta of 1.10.

Institutional Investors Weigh In On NIO

Institutional investors have recently made changes to their positions in the company. Aspex Management HK Ltd bought a new stake in shares of NIO during the third quarter valued at approximately $266,700,000. WT Asset Management Ltd bought a new position in NIO in the 3rd quarter valued at approximately $142,120,000. Ghisallo Capital Management LLC purchased a new stake in NIO during the 3rd quarter valued at $91,440,000. Voloridge Investment Management LLC bought a new stake in shares of NIO in the 3rd quarter worth $89,952,000. Finally, RWC Asset Advisors US LLC bought a new stake in shares of NIO in the 3rd quarter worth $79,761,000. Hedge funds and other institutional investors 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.