NIO (NYSE:NIO) Shares Up 4.6% – Should You Buy?

NIO Inc. (NYSE:NIO) shares shot up 4.6% on Monday . The stock traded as high as $5.40 and last traded at $5.3050. 52,313,578 shares changed hands during mid-day trading, an increase of 17% from the average session volume of 44,701,211 shares. The stock had previously closed at $5.07.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a research report on Monday, December 29th. UBS Group lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Macquarie Infrastructure upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.10 target price on the stock in a research report on Thursday, January 15th. Barclays lifted their price target on NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Friday, November 28th. Finally, Citigroup dropped their price objective on NIO from $8.60 to $6.90 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, NIO has a consensus rating of “Hold” and an average price target of $6.83.

NIO Price Performance

The business has a 50 day simple moving average of $4.85 and a two-hundred day simple moving average of $5.79. The firm has a market capitalization of $11.07 billion, a P/E ratio of -3.66 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.94.

Hedge Funds Weigh In On NIO

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings 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 acquiring an additional 2,877 shares during the last quarter. Atlantic Union Bankshares Corp raised its position in NIO by 98.3% during the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after purchasing an additional 2,950 shares in the last quarter. Allworth Financial LP lifted its stake in NIO by 183.5% during the third quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock worth $50,000 after purchasing an additional 4,269 shares during the last quarter. Arax Advisory Partners lifted its stake in 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 last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of NIO in the 4th quarter worth about $41,000. Hedge funds and other 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.