NIO (NYSE:NIO) Stock Price Up 1.3% - Here's What Happened

Key Points

• NIO shares rose 1.3% in mid-day trading to $4.80, with about 17.7 million shares changing hands—53% below the average trading volume.
• Analyst sentiment remains mixed but leans positive: NIO has a consensus “Moderate Buy” rating and an average price target of $6.70, compared with the current share price.
• Institutional ownership stands at 48.55%, with several major investors—including UBS Asset Management, Franklin Resources and Invesco—recently increasing their positions.

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price shot up 1.3% during mid-day trading on Monday . The stock traded as high as $4.82 and last traded at $4.80. Approximately 17,692,452 shares traded hands during trading, a decline of 53% from the average session volume of 37,790,855 shares. The stock had previously closed at $4.74.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Bank of America reissued a "neutral" rating and issued a $6.80 price objective on shares of NIO in a research note 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 report on Monday, July 13th. Weiss Ratings reissued a "sell (e+)" rating on shares of NIO in a research note on Wednesday, July 29th. Sanford C. Bernstein restated a "market perform" rating and set a $6.00 price objective on shares of NIO in a research report on Friday, May 22nd. Finally, Zacks Research raised NIO from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $6.70.

NIO Stock Up 1.3%

The stock has a market cap of $11.92 billion, a price-to-earnings ratio of -8.73 and a beta of 0.91. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. The firm's 50 day moving average is $5.00 and its two-hundred day moving average is $5.36.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in NIO by 3,966.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company's stock worth $20,255,000 after acquiring an additional 5,185,565 shares during the last quarter. Franklin Resources Inc. raised its holdings in NIO by 50.9% in the 2nd quarter. Franklin Resources Inc. now owns 17,707 shares of the company's stock valued at $61,000 after acquiring an additional 5,974 shares during the last quarter. Invesco Ltd. lifted its stake in shares of NIO by 22.7% during the 2nd quarter. Invesco Ltd. now owns 2,738,308 shares of the company's stock worth $9,392,000 after purchasing an additional 506,618 shares during the period. First Trust Advisors LP lifted its stake in shares of NIO by 67.4% during the 2nd quarter. First Trust Advisors LP now owns 73,280 shares of the company's stock worth $251,000 after purchasing an additional 29,501 shares during the period. Finally, AXA S.A. acquired a new stake in shares of NIO during the second quarter worth $64,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

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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