NIO (NYSE:NIO) Trading Up 2.8% - Should You Buy?

Key Points

• NIO shares rose 2.8% to $4.615 during Monday’s trading, though volume was 42% below the average session volume.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $6.70; Goldman Sachs upgraded the stock to “Buy” with a $7 target.
• Institutional investors and hedge funds own 48.55% of NIO, while the company reports a $11.46 billion market capitalization, negative P/E ratio of -8.39, and current ratio of 1.01.

NIO Inc. (NYSE:NIO - Get Free Report) was up 2.8% during mid-day trading on Monday . The company traded as high as $4.63 and last traded at $4.6150. 22,329,329 shares traded hands during trading, a decline of 42% from the average session volume of 38,776,461 shares. The stock had previously closed at $4.49.

Analysts Set New Price Targets

NIO has been the subject of a number of recent research reports. 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. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $6.00 target price on shares of NIO in a research report on Friday, May 22nd. The Goldman Sachs Group upgraded NIO from a "neutral" rating to a "buy" rating and set a $7.00 price target on the stock in a report on Monday, July 13th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of NIO in a research note on Friday, May 1st. Seven investment 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $6.70.

NIO Stock Up 2.8%

The business's fifty day moving average price is $5.16 and its two-hundred day moving average price is $5.36. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01. The firm has a market capitalization of $11.46 billion, a P/E ratio of -8.39 and a beta of 0.90.

Institutional Investors Weigh In On NIO

Institutional investors have recently bought and sold shares of the company. Hoffman Alan N Investment Management grew its holdings in NIO by 44.0% in the second quarter. Hoffman Alan N Investment Management now owns 108,999 shares of the company's stock worth $552,000 after purchasing an additional 33,291 shares during the last quarter. StoneCrest Wealth Management Inc. lifted its holdings in shares of NIO by 65.9% during the 2nd quarter. StoneCrest Wealth Management Inc. now owns 18,577 shares of the company's stock valued at $94,000 after purchasing an additional 7,377 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of NIO during the 2nd quarter valued at $19,008,000. DV Trading LLC boosted its position in shares of NIO by 134.1% in the 1st quarter. DV Trading LLC now owns 16,386 shares of the company's stock worth $99,000 after purchasing an additional 9,386 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its position in shares of NIO by 71.6% in the 1st quarter. Glenmede Trust Co. NA now owns 22,063 shares of the company's stock worth $133,000 after purchasing an additional 9,204 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

About NIO

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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