NIO (NYSE:NIO) Shares Up 1.6% - Here's Why

Key Points

• NIO shares rose 1.6% to about $4.70 in mid-day trading, although volume was down 40% from the average session.
• Analyst views remain mixed: Goldman Sachs upgraded NIO to “buy,” while other firms maintained neutral, market-perform, or sell ratings. The stock has an overall “Hold” consensus and an average price target of $6.70.
• Institutional investors own approximately 48.55% of NIO, with several funds recently increasing stakes or initiating new positions.

NIO Inc. (NYSE:NIO - Get Free Report)'s share price traded up 1.6% during mid-day trading on Tuesday . The company traded as high as $4.72 and last traded at $4.6950. Approximately 23,045,922 shares were traded during mid-day trading, a decline of 40% from the average session volume of 38,681,508 shares. The stock had previously closed at $4.62.

Analysts Set New Price Targets

NIO has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of NIO in a research report on Friday, May 1st. Bank of America reissued a "neutral" rating and issued a $6.80 price target on shares of NIO in a research report on Thursday, May 21st. The Goldman Sachs Group upgraded shares of NIO from a "neutral" rating to a "buy" rating and set a $7.00 price target on the stock in a research note on Monday, July 13th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $6.00 price objective on shares of NIO in a report on Friday, May 22nd. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $6.70.

NIO Trading Up 1.6%

The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01. The firm has a market cap of $11.66 billion, a P/E ratio of -8.54 and a beta of 0.90. The firm has a 50 day simple moving average of $5.13 and a 200 day simple moving average of $5.36.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently bought and sold shares of NIO. Atlantic Union Bankshares Corp lifted its stake in NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company's stock worth $30,000 after purchasing an additional 2,950 shares in the last quarter. Arax Advisory Partners grew its position in shares of NIO by 81.6% during the 4th quarter. Arax Advisory Partners now owns 7,758 shares of the company's stock valued at $40,000 after purchasing an additional 3,487 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of NIO in the fourth quarter worth $41,000. Merkkuri Wealth Advisors LLC bought a new position in shares of NIO in the first quarter worth $41,000. Finally, MV Capital Management Inc. purchased a new stake in shares of NIO in the fourth quarter worth $42,000. 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.

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