NIO (NYSE:NIO) Stock Price Up 3.7% – Should You Buy?
by Mitch Edgeman · The Markets DailyNIO Inc. (NYSE:NIO – Get Free Report)’s share price was up 3.7% during mid-day trading on Monday . The stock traded as high as $5.61 and last traded at $5.5070. Approximately 43,818,359 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 45,423,492 shares. The stock had previously closed at $5.31.
Analyst Ratings Changes
A number of brokerages recently issued reports on NIO. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and lifted their target price for the company from $4.80 to $6.80 in a report on Friday, March 13th. Macquarie Infrastructure raised NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target on the stock in a research report on Thursday, January 15th. Finally, Bank of America restated a “neutral” rating on shares of NIO in a research note on Tuesday, March 10th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, NIO has a consensus rating of “Hold” and a consensus target price of $6.80.
Get Our Latest Analysis on NIO
NIO Price Performance
The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $12.65 billion, a PE ratio of -5.68 and a beta of 1.11. The firm’s fifty day simple moving average is $5.08 and its 200-day simple moving average is $5.74.
Hedge Funds Weigh In On NIO
Hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its position in NIO by 48.8% in the 4th quarter. Hsbc Holdings PLC now owns 680,382 shares of the company’s stock valued at $3,445,000 after acquiring an additional 223,178 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of NIO by 12.5% in the 4th quarter. Corient Private Wealth LLC now owns 61,129 shares of the company’s stock worth $312,000 after purchasing an additional 6,772 shares in the last quarter. MV Capital Management Inc. bought a new stake in shares of NIO in the 4th quarter worth $42,000. Compound Planning Inc. raised its stake in shares of NIO by 12.9% in the fourth quarter. Compound Planning Inc. now owns 41,449 shares of the company’s stock worth $211,000 after purchasing an additional 4,721 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of NIO by 47.8% in the fourth quarter. Invesco Ltd. now owns 3,997,775 shares of the company’s stock worth $20,389,000 after purchasing an additional 1,292,715 shares during the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.
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.