NIO (NYSE:NIO) Stock Price Up 7.6% – Should You Buy?

Shares of NIO Inc. (NYSE:NIO) shot up 7.6% on Wednesday . The stock traded as high as $6.58 and last traded at $6.5450. 56,571,183 shares changed hands during trading, an increase of 35% from the average session volume of 42,041,020 shares. The stock had previously closed at $6.08.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NIO shares. Macquarie Infrastructure upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price objective for the company in a research report on Thursday, January 15th. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target for the company in a report on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Finally, Bank of America reiterated a “neutral” rating on shares of NIO in a report on Tuesday, March 10th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.80.

NIO Stock Up 7.6%

The stock has a market capitalization of $15.04 billion, a price-to-earnings ratio of -6.75 and a beta of 0.97. The business has a 50-day moving average of $5.93 and a 200-day moving average of $5.56. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.87 and a current ratio of 0.98.

NIO (NYSE:NIO) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.04 earnings per share for the quarter. NIO had a negative net margin of 17.21% and a negative return on equity of 924.56%. The business had revenue of $4.95 billion during the quarter. On average, sell-side analysts expect that NIO Inc. will post -0.28 EPS for the current year.

Institutional Trading of NIO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. WT Asset Management Ltd purchased a new stake in shares of NIO in the 3rd quarter valued at $142,120,000. ABC Arbitrage SA purchased a new position in NIO during the 3rd quarter valued at about $1,857,000. Ghisallo Capital Management LLC purchased a new position in NIO during the 3rd quarter valued at about $91,440,000. HUB Investment Partners LLC acquired a new position in NIO in the 3rd quarter valued at about $1,758,000. Finally, RWC Asset Advisors US LLC acquired a new position in NIO in the 3rd quarter valued at about $79,761,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.