NIO (NYSE:NIO) Shares Gap Up – What’s Next?

NIO Inc. (NYSE:NIO)’s share price gapped up prior to trading on Friday . The stock had previously closed at $4.77, but opened at $4.93. NIO shares last traded at $4.8050, with a volume of 9,309,940 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NIO shares. UBS Group downgraded shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Citigroup decreased their price objective on shares of NIO from $8.60 to $6.90 and set a “buy” rating for the company in a research note on Wednesday, November 26th. The Goldman Sachs Group reissued a “neutral” rating and issued a $7.00 target price on shares of NIO in a research note on Thursday, October 30th. Macquarie upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 target price on the stock in a report on Thursday, January 15th. Finally, Barclays increased their price target on NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Friday, November 28th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.83.

NIO Stock Down 1.3%

The firm’s 50 day moving average price is $4.96 and its two-hundred day moving average price is $5.76. The firm has a market capitalization of $9.83 billion, a PE ratio of -3.25 and a beta of 1.05. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 2.36.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Aspex Management HK Ltd purchased a new position in NIO in the third quarter valued at about $266,700,000. WT Asset Management Ltd acquired a new position in shares of NIO in the 3rd quarter valued at approximately $142,120,000. Ghisallo Capital Management LLC acquired a new position in shares of NIO in the 3rd quarter valued at approximately $91,440,000. Voloridge Investment Management LLC purchased a new position in shares of NIO during the 3rd quarter valued at approximately $89,952,000. Finally, RWC Asset Advisors US LLC acquired a new stake in shares of NIO during the third quarter worth approximately $79,761,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.