NIO (NYSE:NIO) Shares Up 2.8% – Time to Buy?

Shares of NIO Inc. (NYSE:NIO) shot up 2.8% during trading on Friday . The stock traded as high as $4.76 and last traded at $4.7270. 24,979,675 shares changed hands during mid-day 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

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of NIO from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $6.00 price target on shares of NIO in a research report on Friday, May 22nd. Bank of America reiterated a “neutral” rating and set a $6.80 price objective on shares of NIO in a research note on Thursday, May 21st. The Goldman Sachs Group raised NIO from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Monday, July 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.70.

NIO Stock Up 2.8%

The company has a market cap of $11.74 billion, a price-to-earnings ratio of -8.59 and a beta of 0.91. The business has a fifty day moving average of $5.00 and a two-hundred day moving average of $5.36. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its stake in NIO by 70.2% in the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock valued at $87,146,000 after acquiring an additional 5,962,731 shares during the period. Bank of America Corp DE raised its position in NIO by 99.0% during the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after acquiring an additional 7,079,903 shares during the period. Voloridge Investment Management LLC lifted its holdings in NIO by 14.4% during the fourth 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 valued at $20,255,000 after purchasing an additional 5,185,565 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in NIO by 67.2% during the first quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company’s stock valued at $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.