NIO (NYSE:NIO) Shares Down 1.8% – Here’s Why

NIO Inc. (NYSE:NIO) was down 1.8% during mid-day trading on Wednesday . The stock traded as low as $5.15 and last traded at $5.1850. Approximately 24,820,079 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 42,494,066 shares. The stock had previously closed at $5.28.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NIO shares. Sanford C. Bernstein reiterated a “market perform” rating and issued a $6.00 price objective on shares of NIO in a research note on Friday, May 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. Dbs Bank upgraded NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Nomura upgraded NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target on the stock in a research note on Wednesday, March 11th. Finally, Bank of America restated a “neutral” rating and issued a $6.80 price target on shares of NIO in a research note on Thursday, May 21st. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.70.

NIO Stock Performance

The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90. The company has a market capitalization of $12.92 billion, a price-to-earnings ratio of -9.46 and a beta of 0.92. The stock has a 50 day simple moving average of $6.02 and a two-hundred day simple moving average of $5.40.

NIO (NYSE:NIO) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.04 earnings per share for the quarter. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%.The company had revenue of $4.95 billion for the quarter. As a group, analysts anticipate that NIO Inc. will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Several hedge funds have recently made changes to their positions in NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of NIO by 3,966.7% during the first 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 purchasing an additional 5,185,565 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of NIO by 50.9% during the second quarter. Franklin Resources Inc. now owns 17,707 shares of the company’s stock worth $61,000 after purchasing an additional 5,974 shares during the last quarter. Invesco Ltd. grew its holdings in shares of NIO by 22.7% during the second quarter. Invesco Ltd. now owns 2,738,308 shares of the company’s stock worth $9,392,000 after purchasing an additional 506,618 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of NIO by 67.4% during the second quarter. First Trust Advisors LP now owns 73,280 shares of the company’s stock worth $251,000 after purchasing an additional 29,501 shares during the last quarter. Finally, AXA S.A. purchased a new position in shares of NIO during the second quarter worth about $64,000. Hedge funds and other 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.