Sunday, June 26, 2022

Taking a Closer Look At NIO Inc. (NIO) Following Its Recent Trade

BofA Securities upgraded its NIO Inc. [NIO] rating to a Buy from a a Neutral in a research note published on Tuesday. PT values the company’s stock at a premium of 12.85 to its Tuesday closing price. A number of analysts have revised their coverage, including UBS’s analysts, who increased its forecast for the stock in early April from “a Neutral” to “a Buy”. China Renaissance began covering NIO with a “Buy” recommendation on March 24, 2022. Citigroup started covering the stock on March 16, 2022. It rated NIO as “a Buy”.


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Price Performance Review of NIO

On Tuesday, NIO Inc. [NYSE:NIO] saw its stock jump 9.10% to $22.66. On the same session, the stock had its day’s lowest price of $21.58, but rose to a high of $23.10. Over the last five days, the stock has gained 41.71%. NIO Inc. shares have fallen nearly -28.47% since the year began. Nevertheless, the stocks have fallen -51.28% over the past one year. While a 52-week high of $55.13 was reached on 01/03/22, a 52-week low of $11.67 was recorded on 05/12/22. SMA at 50 days reached $17.38, while 200 days put it at $27.48. A total of 89.93 million shares were traded, compared to the trading of 77.24 million shares in the previous session.

Levels Of Support And Resistance For NIO Stock

The 24-hour chart illustrates a support level at 21.79, which if violated will result in even more drops to 20.93. On the upside, there is a resistance level at 23.31. A further resistance level may holdings at 23.97. The Relative Strength Index (RSI) on the 14-day chart is 64.48, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.72, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 6.06%. Stochastics %K at 96.40% indicates the stock is a selling.

NIO Inc. [NIO] – Who Are The Largest Shareholders?

In filings from Baillie Gifford & Co., it is revealed that the company now owns 88,750,621 shares, or roughly 5.75% of the outstanding NIO shares. In other words, the investor’s shares have fallen by -107,744 from its previous 13-F filing of 88858365.0. Additionally, BlackRock Fund Advisors decreased -0.95% of its stake after which the total value it holdings stand at $690,580,255, while The Vanguard Group, Inc. added 3.22% of its stake to hold $664.08 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -6,079,088 shares of NIO Inc., while Goldman Sachs & Co. LLC sold 1,181,236 shares. At present, Norges Bank Investment Management is holding 13,749,756 shares valued at $239.11 million. Susquehanna Financial Group LLLP owned 13,365,378 shares of the company at the time of its most recent 13F filing, worth $232.42 million.

According to FactSet, NIO Inc.’s share price will average $232.55 in the next year, based on opinions of analysts polled by the firm. This is up nearly 880.26 percent from its previous closing price of $20.77. Analysts expect NIO Inc. stock to reach the higher price of $552.16, while the lowest price estimate is $147.06. However, 35 analysts have rated NIO stock as a Buy in their predictions for 2022. The most recent change occurred on February 08, 2022 when Barclays began covering the stock and recommended ‘”an Overweight”‘ rating along with a $34 price target.

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