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

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

Analyst Upgrades and Downgrades

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

NIO Stock Performance

The stock has a market cap of $12.13 billion, a price-to-earnings ratio of -8.88 and a beta of 0.90. The company’s 50 day simple moving average is $5.33 and its 200 day simple moving average is $5.38. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01.

NIO (NYSE:NIO) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.04 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%. On average, equities research analysts anticipate that NIO Inc. will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On NIO

Several hedge funds have recently made changes to their positions in the company. Atlantic Union Bankshares Corp lifted its holdings 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 in the last quarter. Allworth Financial LP grew its holdings in shares of NIO by 183.5% during the third quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock valued at $50,000 after buying an additional 4,269 shares in the last quarter. Merkkuri Wealth Advisors LLC purchased a new position in shares of NIO during the first quarter valued at $41,000. Arax Advisory Partners raised its position in NIO by 81.6% during the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after buying an additional 3,487 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in NIO by 120.7% during the first quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock valued at $48,000 after buying an additional 4,383 shares during the period. Hedge funds and other 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.