NIO (NYSE:NIO) Shares Up 7.1% – Here’s Why

NIO Inc. (NYSE:NIO) traded up 7.1% during trading on Monday . The stock traded as high as $5.83 and last traded at $5.8150. 48,747,576 shares traded hands during trading, an increase of 5% from the average session volume of 46,568,172 shares. The stock had previously closed at $5.43.

Analyst Ratings Changes

NIO has been the topic of a number of research analyst reports. Barclays increased their price target on NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Friday, November 28th. HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and upped their price objective for the company from $4.80 to $6.80 in a report on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of NIO in a research report on Monday, December 29th. Nomura raised shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price for the company in a report on Wednesday, March 11th. Finally, Bank of America reiterated a “neutral” rating on shares of NIO in a research note on Tuesday, March 10th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.80.

NIO Trading Up 0.9%

The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.87 and a current ratio of 0.98. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of -5.96 and a beta of 1.11. The business has a fifty day simple moving average of $5.02 and a 200 day simple moving average of $5.75.

Hedge Funds Weigh In On NIO

Several institutional investors and hedge funds have recently modified their holdings of the business. Atlantic Union Bankshares Corp raised its stake in NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after purchasing an additional 2,950 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of NIO by 148.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after purchasing an additional 2,877 shares in the last quarter. Arax Advisory Partners increased its holdings in shares of NIO by 81.6% during the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock worth $40,000 after purchasing an additional 3,487 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in shares of NIO in the fourth quarter valued at approximately $41,000. Finally, MV Capital Management Inc. acquired a new stake in shares of NIO in the fourth quarter valued at approximately $42,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.