NIO (NYSE:NIO) Trading Down 3.6% – Here’s What Happened

NIO Inc. (NYSE:NIO)’s stock price traded down 3.6% during trading on Thursday . The company traded as low as $4.73 and last traded at $4.7930. 35,106,311 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 40,902,105 shares. The stock had previously closed at $4.97.

Analyst Ratings Changes

Several brokerages have recently commented on NIO. Bank of America reaffirmed a “neutral” rating and issued a $6.80 price target on shares of NIO in a research note on Thursday, May 21st. Dbs Bank raised NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and boosted their price objective for the company from $4.80 to $6.80 in a report on Friday, March 13th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $6.00 target price on shares of NIO in a research report on Friday, May 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.70.

NIO Trading Up 0.1%

The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94. The business has a 50-day simple moving average of $5.55 and a 200-day simple moving average of $5.38. The company has a market cap of $11.90 billion, a PE ratio of -8.71 and a beta of 0.90.

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

Hedge Funds Weigh In On NIO

Several institutional investors have recently bought and sold shares of NIO. Atlantic Union Bankshares Corp increased its stake in NIO by 98.3% during the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after purchasing an additional 2,950 shares during the period. Arax Advisory Partners boosted its stake in shares of NIO by 81.6% in the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after purchasing an additional 3,487 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of NIO in the fourth quarter valued at approximately $41,000. Merkkuri Wealth Advisors LLC acquired a new position in shares of NIO in the first quarter valued at approximately $41,000. Finally, MV Capital Management Inc. acquired a new position in shares of NIO in the fourth quarter valued at approximately $42,000. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Company Profile

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.