NIO (NYSE:NIO) Stock Price Down 2.1% – Here’s What Happened

NIO Inc. (NYSE:NIO)’s stock price traded down 2.1% on Friday . The stock traded as low as $4.81 and last traded at $4.8850. Approximately 22,335,905 shares changed hands during trading, a decline of 43% from the average daily volume of 39,525,230 shares. The stock had previously closed at $4.99.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $6.00 price objective on shares of NIO in a research report on Friday, May 22nd. Bank of America reiterated a “neutral” rating and issued a $6.80 price objective on shares of NIO in a research note on Thursday, May 21st. Finally, The Goldman Sachs Group upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Monday. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, NIO has a consensus rating of “Hold” and a consensus target price of $6.70.

NIO Stock Performance

The stock has a market cap of $12.13 billion, a P/E ratio of -8.88 and a beta of 0.90. The firm’s 50-day moving average is $5.33 and its two-hundred day moving average is $5.38. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC raised its holdings in NIO by 89.9% during the fourth quarter. SG Americas Securities LLC now owns 3,006,407 shares of the company’s stock valued at $15,333,000 after buying an additional 1,423,350 shares in the last quarter. ABC Arbitrage SA bought a new stake in shares of NIO during the 1st quarter worth about $4,043,000. Hsbc Holdings PLC boosted its stake in shares of NIO by 48.8% during the 4th quarter. Hsbc Holdings PLC now owns 680,382 shares of the company’s stock worth $3,445,000 after acquiring an additional 223,178 shares in the last quarter. Havemeyer Place LP acquired a new position in shares of NIO during the 4th quarter valued at about $1,985,000. Finally, Swedbank AB increased its holdings in shares of NIO by 25.3% during the 4th quarter. Swedbank AB now owns 424,491 shares of the company’s stock valued at $2,165,000 after acquiring an additional 85,602 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

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.