NIO (NYSE:NIO) Stock Price Up 1.8% Following Analyst Upgrade

NIO Inc. (NYSE:NIO)’s share price rose 1.8% on Thursday after Macquarie upgraded the stock from a neutral rating to an outperform rating. Macquarie now has a $6.10 price target on the stock. NIO traded as high as $4.69 and last traded at $4.64. Approximately 25,323,354 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 43,807,332 shares. The stock had previously closed at $4.56.

Several other equities research analysts have also recently issued reports on the company. UBS Group cut NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a research report on Monday, December 29th. Citigroup reduced their target price on NIO from $8.60 to $6.90 and set a “buy” rating on the stock in a report on Wednesday, November 26th. The Goldman Sachs Group restated a “neutral” rating and issued a $7.00 price target on shares of NIO in a research report on Thursday, October 30th. Finally, Mizuho upped their price objective on shares of NIO from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.83.

Institutional Investors Weigh In On NIO

Hedge funds have recently modified their holdings of the company. Aspex Management HK Ltd acquired a new position in NIO in the 3rd quarter worth about $266,700,000. WT Asset Management Ltd acquired a new stake in shares of NIO during the third quarter valued at about $142,120,000. Ghisallo Capital Management LLC bought a new stake in shares of NIO during the third quarter worth about $91,440,000. Voloridge Investment Management LLC acquired a new position in shares of NIO in the third quarter valued at approximately $89,952,000. Finally, RWC Asset Advisors US LLC acquired a new position in shares of NIO in the third quarter valued at approximately $79,761,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Trading Up 1.5%

The business’s fifty day moving average is $5.24 and its 200-day moving average is $5.68. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.94. The firm has a market cap of $9.83 billion, a P/E ratio of -3.25 and a beta of 1.05.

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.