NIO (NYSE:NIO) Shares Up 4.2% - Time to Buy?

Key Points

• Shares of NIO rose 4.2% on Friday to about $5.12 (intraday high $5.15) on lighter-than-average volume (~47.8M vs. a 57.8M daily average).
• Analysts' consensus rating is Hold with a consensus target of $6.73, while individual price targets recently range roughly from $5.30 to $7.00 and ratings span Buy, Hold and Sell.
• Insiders and institutions own a large stake (about 48.55%); NIO has a $10.68B market cap, a negative P/E and higher leverage (debt-to-equity 2.36), highlighting balance-sheet risk despite investor interest.

Shares of NIO Inc. (NYSE:NIO - Get Free Report) rose 4.2% on Friday . The stock traded as high as $5.15 and last traded at $5.1150. Approximately 47,766,928 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 57,832,645 shares. The stock had previously closed at $4.91.

Analysts Set New Price Targets

NIO has been the subject of a number of recent analyst reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $7.00 target price on shares of NIO in a research report on Thursday, October 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of NIO in a report on Monday. Mizuho lifted their price objective on NIO from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Tuesday, September 23rd. Citigroup lowered their target price on NIO from $8.60 to $6.90 and set a "buy" rating on the stock in a report on Wednesday, November 26th. Finally, Macquarie set a $5.30 price target on NIO in a research note on Tuesday, November 25th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $6.73.

NIO Trading Up 4.2%

The stock's 50-day simple moving average is $5.92 and its two-hundred day simple moving average is $5.52. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.94 and a quick ratio of 0.83. The firm has a market capitalization of $10.68 billion, a P/E ratio of -3.53 and a beta of 1.04.

Hedge Funds Weigh In On NIO

Several large investors have recently made changes to their positions in the business. Allworth Financial LP grew its position in shares of 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 in the last quarter. Cantor Fitzgerald L. P. bought a new position in NIO in the 3rd quarter worth approximately $328,000. Caitong International Asset Management Co. Ltd grew its holdings in NIO by 3,282.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 42,925 shares of the company's stock valued at $327,000 after buying an additional 41,656 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of NIO during the third quarter valued at approximately $431,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of NIO by 13.8% in the third quarter. CANADA LIFE ASSURANCE Co now owns 1,066,223 shares of the company's stock worth $7,675,000 after buying an additional 129,487 shares in the last quarter. 48.55% of the stock is currently 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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