NIO (NYSE:NIO) Trading Up 3.1% After Analyst Upgrade

NIO Inc. (NYSE:NIO) shot up 3.1% on Monday after HSBC upgraded the stock from a hold rating to a buy rating. HSBC now has a $6.80 price target on the stock, up from their previous price target of $4.80. NIO traded as high as $6.21 and last traded at $6.0440. 64,927,291 shares traded hands during trading, an increase of 37% from the average session volume of 47,335,492 shares. The stock had previously closed at $5.86.

NIO has been the subject of several other reports. UBS Group lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price for the company in a report on Wednesday, March 11th. Bank of America reaffirmed a “neutral” rating on shares of NIO in a research note on Tuesday, March 10th. Citigroup cut their price target on shares of NIO from $8.60 to $6.90 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Finally, Barclays increased their price objective on shares of NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 28th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.80.

Institutional Investors Weigh In On NIO

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

NIO Price Performance

The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.87 and a current ratio of 0.98. The firm has a fifty day simple moving average of $4.90 and a 200 day simple moving average of $5.77. The company has a market capitalization of $13.89 billion, a PE ratio of -6.23 and a beta of 1.11.

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.