NIO (NYSE:NIO) Trading Down 2.8% – Here’s Why

NIO Inc. (NYSE:NIO) traded down 2.8% during mid-day trading on Tuesday . The company traded as low as $5.20 and last traded at $5.2950. 34,336,298 shares were traded during trading, a decline of 19% from the average session volume of 42,652,660 shares. The stock had previously closed at $5.45.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. HSBC upgraded NIO from a “hold” rating to a “buy” rating and upped their price objective for the company from $4.80 to $6.80 in a report on Friday, March 13th. Dbs Bank upgraded NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. Nomura upgraded NIO from a “neutral” rating to a “buy” rating and set a $6.60 price objective for the company in a research report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Finally, Bank of America reiterated a “neutral” rating and set a $6.80 price target on shares of NIO in a report on Thursday, May 21st. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.70.

NIO Stock Performance

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 has a market capitalization of $13.00 billion, a price-to-earnings ratio of -9.52 and a beta of 0.92. The firm’s fifty day moving average price is $6.03 and its 200 day moving average price is $5.41.

NIO (NYSE:NIO) last announced its earnings results on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. The company had revenue of $4.95 billion for the quarter. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%. Analysts forecast 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 boosted its stake in shares of NIO by 98.3% in 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 period. Allworth Financial LP increased its stake in NIO by 183.5% during the 3rd quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock worth $50,000 after buying an additional 4,269 shares during the period. Merkkuri Wealth Advisors LLC purchased a new stake in NIO during the 1st quarter worth approximately $41,000. Arax Advisory Partners increased its stake in NIO by 81.6% during the 4th 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 period. Finally, EverSource Wealth Advisors LLC increased its stake in NIO by 120.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock worth $48,000 after buying an additional 4,383 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

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.