NIO (NYSE:NIO) Trading Up 2% - Here's Why

Key Points

• NIO shares rose 2% to $4.61, although trading volume was 55% below the average session volume.
• Analyst sentiment is mixed but leans positive: the consensus rating is “Moderate Buy” with a $6.70 price target, despite one sell rating and several neutral assessments.
• Institutional ownership stands at 48.55%, with major investors including Renaissance Technologies, Bank of America and UBS increasing their positions recently.

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price shot up 2% on Monday . The stock traded as high as $4.61 and last traded at $4.61. 16,974,316 shares were traded during trading, a decline of 55% from the average session volume of 37,571,977 shares. The stock had previously closed at $4.52.

Analyst Ratings Changes

NIO has been the topic of several recent research reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NIO in a research note on Wednesday, July 29th. The Goldman Sachs Group raised shares of NIO from a "neutral" rating to a "buy" rating and set a $7.00 price target for the company in a research note on Monday, July 13th. Zacks Research upgraded shares of NIO from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $6.00 price objective on shares of NIO in a research note on Friday, May 22nd. Finally, Bank of America reaffirmed a "neutral" rating and set a $6.80 target price on shares of NIO in a report on Thursday, May 21st. 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.70.

NIO Trading Up 2.0%

The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of -8.38 and a beta of 0.91. 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 company's fifty day simple moving average is $4.88 and its two-hundred day simple moving average is $5.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its position in shares of NIO by 70.2% during the first quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company's stock worth $87,146,000 after purchasing an additional 5,962,731 shares during the period. Bank of America Corp DE grew its position in shares of NIO by 99.0% in the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company's stock valued at $85,800,000 after purchasing an additional 7,079,903 shares during the period. Voloridge Investment Management LLC grew its position in shares of NIO by 14.4% in the 4th quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company's stock valued at $68,843,000 after purchasing an additional 1,694,023 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in NIO by 3,966.7% during the 1st 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. Finally, SG Americas Securities LLC increased its stake in NIO by 67.2% during the 1st quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company's stock worth $30,314,000 after purchasing an additional 2,020,754 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source