NIO (NYSE:NIO) Stock Price Up 1.5% After Analyst Upgrade

NIO Inc. (NYSE:NIO) shares shot up 1.5% during trading on Friday 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 $4.72 and last traded at $4.71. 28,551,928 shares traded hands during trading, a decline of 33% from the average session volume of 42,439,238 shares. The stock had previously closed at $4.64.

A number of other equities analysts have also recently commented on NIO. UBS Group cut shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings restated a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. Barclays increased their target price on shares of NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Friday, November 28th. 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 NIO from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. 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 company. According to data from MarketBeat.com, NIO presently has a consensus rating of “Hold” and an average target price of $6.83.

Institutional Trading of NIO

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

NIO Price Performance

The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 2.36. The stock’s 50-day moving average price is $5.24 and its 200 day moving average price is $5.69. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of -3.25 and a beta of 1.05.

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.