NIO (NYSE:NIO) Stock Price Up 2.8% - Here's Why

Key Points

• NIO shares rose 2.8% to about $4.73 in Friday trading, although volume was 34% below the stock’s average session volume.
• Analyst sentiment is mixed but leans positive: Goldman Sachs and Zacks upgraded the stock, while Bank of America and Bernstein maintained neutral ratings. MarketBeat reports a consensus “Moderate Buy” rating and a $6.70 average price target.
• Institutional ownership remains significant at 48.55%, with UBS Asset Management, Franklin Resources, Invesco and First Trust among investors that recently increased their positions.

Shares of NIO Inc. (NYSE:NIO - Get Free Report) shot up 2.8% on Friday . The stock traded as high as $4.76 and last traded at $4.7270. Approximately 24,979,675 shares changed hands during trading, a decline of 34% from the average session volume of 37,909,922 shares. The stock had previously closed at $4.60.

Analyst Upgrades and Downgrades

NIO has been the topic of several recent research reports. Bank of America restated a "neutral" rating and issued a $6.80 price objective on shares of NIO in a research report on Thursday, May 21st. The Goldman Sachs Group raised shares of NIO from a "neutral" rating to a "buy" rating and set a $7.00 target price for the company in a report on Monday, July 13th. Zacks Research upgraded shares of NIO from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Weiss Ratings reissued a "sell (e+)" rating on shares of NIO in a report on Wednesday, July 29th. 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.70.

NIO Price Performance

The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $11.74 billion, a PE ratio of -8.59 and a beta of 0.91. The stock has a 50-day moving average price of $5.01 and a 200 day moving average price of $5.36.

Institutional Investors Weigh In On NIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 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 purchasing an additional 5,185,565 shares in the last quarter. Franklin Resources Inc. lifted its stake 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 buying an additional 5,974 shares in the last quarter. Invesco Ltd. boosted its holdings in NIO by 22.7% in the 2nd quarter. Invesco Ltd. now owns 2,738,308 shares of the company's stock worth $9,392,000 after buying an additional 506,618 shares during the last quarter. First Trust Advisors LP boosted its holdings in NIO by 67.4% in the 2nd quarter. First Trust Advisors LP now owns 73,280 shares of the company's stock worth $251,000 after buying an additional 29,501 shares during the last quarter. Finally, AXA S.A. purchased a new stake in NIO during the 2nd quarter worth approximately $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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