NIO (NYSE:NIO) Stock Price Up 4.2% – Still a Buy?

NIO Inc. (NYSE:NIO)’s stock price was up 4.2% on Friday . The stock traded as high as $5.15 and last traded at $5.1150. Approximately 47,766,928 shares traded hands during trading, a decline of 17% from the average daily volume of 57,832,645 shares. The stock had previously closed at $4.91.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NIO shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $7.00 price objective on shares of NIO in a report on Thursday, October 30th. UBS Group lowered shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Wall Street Zen raised shares of NIO from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. Macquarie set a $5.30 price objective on shares of NIO in a research note on Tuesday, November 25th. Finally, Mizuho upped their target price on shares of NIO from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, NIO currently has an average rating of “Hold” and an average target price of $6.73.

NIO Trading Up 4.2%

The company has a market cap of $10.68 billion, a price-to-earnings ratio of -3.53 and a beta of 1.04. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 2.36. The business’s 50 day moving average price is $5.89 and its 200-day moving average price is $5.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of NIO by 148.3% during the third quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after purchasing an additional 2,877 shares during the period. Allworth Financial LP grew its position in NIO by 183.5% during the third quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock worth $50,000 after buying an additional 4,269 shares in the last quarter. Aries Wealth Management bought a new position in NIO during the 3rd quarter worth $76,000. Concurrent Investment Advisors LLC bought a new position in NIO during the 3rd quarter worth $77,000. Finally, Strategies Wealth Advisors LLC acquired a new position in NIO in the 3rd quarter valued at $77,000. 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.