NIO (NYSE:NIO) Trading Down 4.4% – Here’s Why

NIO Inc. (NYSE:NIO) shares fell 4.4% during mid-day trading on Friday . The company traded as low as $5.29 and last traded at $5.3150. 36,494,107 shares were traded during mid-day trading, a decline of 20% from the average session volume of 45,543,191 shares. The stock had previously closed at $5.56.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Nomura raised shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target for the company in a research note on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. Bank of America reiterated a “neutral” rating on shares of NIO in a research note on Tuesday, March 10th. Dbs Bank raised NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. Finally, HSBC upgraded NIO from a “hold” rating to a “buy” rating and upped their target price for the stock from $4.80 to $6.80 in a research report on Friday, March 13th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.80.

NIO Trading Down 4.4%

The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 2.08. The firm’s 50-day simple moving average is $5.07 and its 200 day simple moving average is $5.75. The stock has a market capitalization of $12.21 billion, a P/E ratio of -5.48 and a beta of 1.11.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently made changes to their positions in NIO. Atlantic Union Bankshares Corp lifted 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 valued at $30,000 after purchasing an additional 2,950 shares during the last quarter. Farther Finance Advisors LLC grew its position in NIO by 148.3% in the third quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after buying an additional 2,877 shares during the last quarter. Arax Advisory Partners grew its position in NIO by 81.6% in the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock worth $40,000 after buying an additional 3,487 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of NIO in the fourth quarter valued at $41,000. Finally, MV Capital Management Inc. bought a new position in shares of NIO in the fourth quarter valued at $42,000. 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.