NIO (NYSE:NIO) Shares Down 1.1% – What’s Next?

NIO Inc. (NYSE:NIO)’s stock price dropped 1.1% during mid-day trading on Tuesday . The company traded as low as $5.91 and last traded at $5.9650. Approximately 35,060,133 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 47,102,668 shares. The stock had previously closed at $6.03.

Analyst Upgrades and Downgrades

NIO has been the subject of a number of recent research reports. UBS Group lowered shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Citigroup lowered their price objective on shares of NIO from $8.60 to $6.90 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Weiss Ratings restated a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. Bank of America reaffirmed a “neutral” rating on shares of NIO in a report on Tuesday, March 10th. Finally, HSBC upgraded NIO from a “hold” rating to a “buy” rating and lifted their price target for the stock from $4.80 to $6.80 in a research report on Friday, March 13th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.80.

NIO Stock Up 1.2%

The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.87 and a current ratio of 0.98. The company’s fifty day moving average price is $4.94 and its 200-day moving average price is $5.77. The stock has a market cap of $13.53 billion, a P/E ratio of -6.07 and a beta of 1.11.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NIO. Corient Private Wealth LLC raised its holdings in shares of NIO by 12.5% in the fourth quarter. Corient Private Wealth LLC now owns 61,129 shares of the company’s stock worth $312,000 after buying an additional 6,772 shares during the period. Hsbc Holdings PLC boosted its holdings in NIO by 48.8% during the 4th quarter. Hsbc Holdings PLC now owns 680,382 shares of the company’s stock valued at $3,445,000 after acquiring an additional 223,178 shares during the period. MV Capital Management Inc. purchased a new position in NIO during the 4th quarter valued at $42,000. Compound Planning Inc. grew its position in NIO by 12.9% in the 4th quarter. Compound Planning Inc. now owns 41,449 shares of the company’s stock valued at $211,000 after acquiring an additional 4,721 shares during the last quarter. Finally, Invesco Ltd. increased its stake in NIO by 47.8% in the fourth quarter. Invesco Ltd. now owns 3,997,775 shares of the company’s stock worth $20,389,000 after purchasing an additional 1,292,715 shares during the period. Institutional investors own 48.55% of the company’s stock.

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.