NIO (NYSE:NIO) Shares Down 2.3% – Here’s Why

NIO Inc. (NYSE:NIO) shares traded down 2.3% on Thursday . The stock traded as low as $4.72 and last traded at $4.7850. Approximately 24,566,556 shares changed hands during trading, a decline of 39% from the average session volume of 40,329,871 shares. The stock had previously closed at $4.90.

Analysts Set New Price Targets

A number of research firms have issued reports on NIO. Sanford C. Bernstein reiterated a “market perform” rating and set a $6.00 target price on shares of NIO in a report on Friday, May 22nd. Dbs Bank raised NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. HSBC upgraded NIO from a “hold” rating to a “buy” rating and increased their price objective for the company from $4.80 to $6.80 in a research note on Friday, March 13th. Bank of America reiterated a “neutral” rating and issued a $6.80 target price on shares of NIO in a report on Thursday, May 21st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, NIO has an average rating of “Hold” and a consensus price target of $6.70.

NIO Price Performance

The stock’s fifty day moving average price is $5.41 and its two-hundred day moving average price is $5.38. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of -8.68 and a beta of 0.90. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94.

NIO (NYSE:NIO) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. The business 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%. Equities research analysts expect that NIO Inc. will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NIO by 3,966.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock worth $20,255,000 after acquiring an additional 5,185,565 shares in the last quarter. Franklin Resources Inc. boosted its holdings in NIO by 50.9% in the second quarter. Franklin Resources Inc. now owns 17,707 shares of the company’s stock valued at $61,000 after purchasing an additional 5,974 shares in the last quarter. Invesco Ltd. increased its stake in NIO by 22.7% in the second quarter. Invesco Ltd. now owns 2,738,308 shares of the company’s stock valued at $9,392,000 after purchasing an additional 506,618 shares during the last quarter. First Trust Advisors LP increased its stake in NIO by 67.4% in the second quarter. First Trust Advisors LP now owns 73,280 shares of the company’s stock valued at $251,000 after purchasing an additional 29,501 shares during the last quarter. Finally, AXA S.A. acquired a new stake in NIO during the second quarter worth approximately $64,000. 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.