NIO (NYSE:NIO) Trading Up 3.4% – Should You Buy?

NIO Inc. (NYSE:NIO)’s stock price rose 3.4% during mid-day trading on Friday . The company traded as high as $5.10 and last traded at $5.0750. Approximately 13,985,102 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 57,691,234 shares. The stock had previously closed at $4.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NIO shares. Mizuho raised their price target on NIO from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Citigroup cut their price target on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a report on Wednesday, November 26th. Barclays upped their price target on shares of NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 28th. Macquarie set a $5.30 price objective on shares of NIO in a report on Tuesday, November 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NIO in a research report on Monday. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.73.

NIO Stock Performance

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 company has a market cap of $10.61 billion, a price-to-earnings ratio of -3.51 and a beta of 1.04. The firm’s 50-day moving average price is $5.92 and its 200 day moving average price is $5.52.

Institutional Trading of NIO

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