NIO (NYSE:NIO) Shares Up 4% - What's Next?

Key Points

• NIO shares jumped about 4%, trading as high as $6.54 and last at $6.385 on 37.13 million shares (roughly 18% below average session volume).
• Several brokers (including Macquarie, Nomura, DBS and HSBC) have upgraded NIO, but the consensus rating remains a Hold with a consensus target price of $6.80 (7 Buys, 4 Holds, 2 Sells).
• The company has a market cap of $14.67 billion, a negative PE (-6.58), a current ratio under 1 and debt-to-equity of 2.08, and roughly 48.6% of shares are held by institutions.

NIO Inc. (NYSE:NIO - Get Free Report)'s share price shot up 4% on Wednesday . The company traded as high as $6.54 and last traded at $6.3850. 37,132,732 shares changed hands during trading, a decline of 18% from the average session volume of 45,214,934 shares. The stock had previously closed at $6.14.

Analysts Set New Price Targets

A number of brokerages have weighed in on NIO. 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 note on Thursday, January 15th. Nomura raised NIO from a "neutral" rating to a "buy" rating and set a $6.60 price target on the stock in a research note on Wednesday, March 11th. Bank of America reaffirmed a "neutral" rating on shares of NIO in a research report on Tuesday, March 10th. Dbs Bank raised NIO from a "hold" rating to a "moderate buy" rating in a research report on Monday, March 16th. Finally, HSBC raised NIO from a "hold" rating to a "buy" rating and increased their target price for the stock from $4.80 to $6.80 in a research report on Friday, March 13th. 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's stock. According to data from MarketBeat, NIO currently has a consensus rating of "Hold" and a consensus target price of $6.80.

NIO Stock Up 4.0%

The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $14.67 billion, a PE ratio of -6.58 and a beta of 0.99. The firm has a 50-day moving average of $5.28 and a two-hundred day moving average of $5.70.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Atlantic Union Bankshares Corp raised its position in NIO by 98.3% in 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 during the period. Farther Finance Advisors LLC raised its position in NIO by 148.3% in the third quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company's stock valued at $37,000 after purchasing an additional 2,877 shares during the period. Arax Advisory Partners raised its position in NIO by 81.6% in the fourth 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 during the period. Eurizon Capital SGR S.p.A. purchased a new position in NIO in the fourth quarter valued at about $41,000. Finally, MV Capital Management Inc. purchased a new position in NIO in the fourth quarter valued at about $42,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.

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