Investing in NIO Inc. (NIO) Is Getting More Attractive

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ZOM Stock
ZOM Stock

Following these proceedings, BofA Securities upgraded its NIO Inc. [NIO] rating to a Buy from a a Neutral in a research note published on Friday. PT values the company’s stock at a premium of 55.08 to its Friday 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 “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 Friday, NIO Inc. [NYSE:NIO] saw its stock jump 17.51% to $11.68. On the same session, the stock had its day’s lowest price of $10.60, but rose to a high of $11.69. Over the last five days, the stock has gained 20.54%. NIO Inc. shares have fallen nearly -63.13% since the year began. Nevertheless, the stocks have fallen -72.91% over the past one year. While a 52-week high of $44.27 was reached on 01/03/22, a 52-week low of $8.38 was recorded on 10/24/22. SMA at 50 days reached $15.45, while 200 days put it at $18.85. A total of 124.92 million shares were traded, compared to the trading of 76.03 million shares in the previous session.

Levels Of Support And Resistance For NIO Stock

The 24-hour chart illustrates a support level at 10.96, which if violated will result in even more drops to 10.23. On the upside, there is a resistance level at 12.05. A further resistance level may holdings at 12.41. The Relative Strength Index (RSI) on the 14-day chart is 46.15, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 31.79%. Stochastics %K at 41.18% indicates the stock is a holding.

How much short interest is there in NIO Inc.?

A steep rise in short interest was recorded in NIO Inc. stocks on Jul 14, 2022, dropping by -7.06 million shares to a total of 60.03 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 67.09 million shares. There was a decline of -11.76%, which implies that there is a negative sentiment for the stock.

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

In filings from Baillie Gifford & Co., it is revealed that the company now owns 96,781,178 shares, or roughly 6.27% of the outstanding NIO shares. In other words, the investor’s shares have risen by 50,039 from its previous 13-F filing of 96731139.0. Additionally, BlackRock Fund Advisors increased 1.53% of its stake after which the total value it holdings stand at $635,821,452, while The Vanguard Group, Inc. added 1.78% of its stake to hold $612.92 million in the firm. Over the last quarter, Goldman Sachs & Co. LLC purchased 5,183,027 shares of NIO Inc., while SSgA Funds Management, Inc. bought -1,059,238 shares. At present, Renaissance Technologies LLC is holding 17,768,900 shares valued at $280.22 million. Norges Bank Investment Management owned 13,749,756 shares of the company at the time of its most recent 13F filing, worth $216.83 million.

According to FactSet, NIO Inc.’s share price will average $193.68 in the next year, based on opinions of analysts polled by the firm. This is up nearly 1922.13 percent from its previous closing price of $9.94. Analysts expect NIO Inc. stock to reach the higher price of $481.02, while the lowest price estimate is $55.66. However, 37 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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