NIO (NYSE:NIO) Trading Down 3.6% – Here’s What Happened

Shares of NIO Inc. (NYSE:NIO) traded down 3.6% during mid-day trading on Tuesday . The stock traded as low as $4.95 and last traded at $5.0150. 43,422,444 shares traded hands during trading, an increase of 3% from the average session volume of 42,011,980 shares. The stock had previously closed at $5.20.

Analyst Upgrades and Downgrades

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

NIO Stock Performance

The stock’s 50 day moving average price is $5.93 and its 200 day moving average price is $5.39. The company has a market capitalization of $12.48 billion, a P/E ratio of -9.14 and a beta of 0.92. 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 announced its quarterly earnings data on Saturday, February 14th. The company reported $0.04 EPS for the quarter. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. The company had revenue of $4.95 billion during the quarter. As a group, equities analysts expect that NIO Inc. will post -0.13 EPS for the current year.

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aspex Management HK Ltd purchased a new position in shares of NIO in the 3rd quarter worth approximately $266,700,000. WT Asset Management Ltd purchased a new stake in shares of NIO during the third quarter valued at approximately $142,120,000. Renaissance Technologies LLC lifted its holdings in NIO by 70.2% during the first quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock worth $87,146,000 after acquiring an additional 5,962,731 shares during the period. Bank of America Corp DE lifted its holdings in NIO by 99.0% during the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after acquiring an additional 7,079,903 shares during the period. Finally, Voloridge Investment Management LLC boosted its position in NIO by 14.4% in the fourth quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company’s stock worth $68,843,000 after purchasing an additional 1,694,023 shares during the last quarter. 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.