NIO (NYSE:NIO) Shares Up 4.4% – What’s Next?
by Jessica Moore · The Cerbat GemNIO Inc. (NYSE:NIO – Get Free Report)’s stock price traded up 4.4% on Monday . The stock traded as high as $4.96 and last traded at $4.8450. 49,955,191 shares were traded during mid-day trading, an increase of 5% from the average session volume of 47,427,098 shares. The stock had previously closed at $4.64.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on NIO. The Goldman Sachs Group restated a “neutral” rating and set a $7.00 price target on shares of NIO in a report on Thursday, October 30th. UBS Group lowered NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Citigroup reduced their target price on NIO from $8.60 to $6.90 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Macquarie set a $5.30 price target on NIO in a report on Tuesday, November 25th. Finally, Barclays raised their price objective on NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 28th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.73.
NIO Trading Up 4.4%
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 business has a 50-day simple moving average of $5.44 and a 200-day simple moving average of $5.67. The company has a market cap of $10.11 billion, a PE ratio of -3.34 and a beta of 1.05.
Hedge Funds Weigh In On NIO
Hedge funds have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new position in shares of NIO in the 2nd quarter valued at about $12,315,000. American Century Companies Inc. raised its holdings in NIO by 37.4% in the second quarter. American Century Companies Inc. now owns 965,409 shares of the company’s stock valued at $3,311,000 after acquiring an additional 262,637 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in NIO by 125.2% in the second quarter. Vontobel Holding Ltd. now owns 1,094,398 shares of the company’s stock valued at $3,754,000 after acquiring an additional 608,377 shares in the last quarter. WMG Financial Advisors LLC lifted its stake in NIO by 17.9% in the second quarter. WMG Financial Advisors LLC now owns 474,966 shares of the company’s stock worth $1,629,000 after acquiring an additional 72,170 shares during the last quarter. Finally, Marex Group plc acquired a new position in NIO during the 2nd quarter worth approximately $916,000. Institutional investors and hedge funds own 48.55% of the company’s stock.
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.