NIO (NYSE:NIO) Shares Down 3.6% – What’s Next?

NIO Inc. (NYSE:NIO)’s share price dropped 3.6% during mid-day trading on Tuesday . The stock traded as low as $4.95 and last traded at $5.0150. Approximately 43,422,444 shares traded hands during trading, an increase of 3% from the average daily volume of 42,011,980 shares. The stock had previously closed at $5.20.

Wall Street Analyst Weigh In

NIO has been the subject of several research analyst reports. HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and lifted their target price for the company from $4.80 to $6.80 in a research report on Friday, March 13th. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a report on Friday, May 1st. Dbs Bank upgraded shares of NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price objective for the company in a report on Wednesday, March 11th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $6.00 price objective on shares of NIO in a report on Friday, May 22nd. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.70.

NIO Trading Down 3.6%

The stock has a market capitalization of $12.45 billion, a P/E ratio of -9.12 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. The stock’s fifty day moving average price is $5.98 and its two-hundred day moving average price is $5.40.

NIO (NYSE:NIO) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.04 EPS for the quarter. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. The company had revenue of $4.95 billion during the quarter. Equities research analysts forecast that NIO Inc. will post -0.13 EPS for the current year.

Institutional Investors Weigh In On NIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp raised its holdings in NIO by 98.3% during the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after buying an additional 2,950 shares during the last quarter. Allworth Financial LP raised its holdings in NIO by 183.5% during the 3rd quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock valued at $50,000 after buying an additional 4,269 shares during the last quarter. Merkkuri Wealth Advisors LLC bought a new stake in NIO during the 1st quarter valued at $41,000. Arax Advisory Partners raised its holdings in NIO by 81.6% during the 4th quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after buying an additional 3,487 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in NIO by 120.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock valued at $48,000 after purchasing an additional 4,383 shares during the period. 48.55% of the stock is currently owned by institutional investors.

About NIO

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.