Benzinga | Nov 4, 2021 01:12PM EDT

Why NIO Shares Are Rising

NIO Inc. (NYSE:NIO) shares are trading higher after Deutsche Bank reiterated a Buy rating on the stock, maintained a $70 price target and added it to the Catalyst Call: Buy List.

Over the past month, NIO's stock has increase by approximately 28.5%.

NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. The company offers five, six, and seven-seater electric SUVs, as well as smart electric sedans.

NIO's stock was trading about 3.6% higher at $43 per share on Thursday at the time of publication. The stock has a 52-week high of $66.99 and a 52-week low of $30.71.