NIO (NYSE:NIO) Stock Price Down 1.1% – Here’s Why

NIO Inc. (NYSE:NIO) shares were down 1.1% during trading on Monday . The stock traded as low as $4.81 and last traded at $4.8250. Approximately 17,176,425 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 39,361,676 shares. The stock had previously closed at $4.88.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a report on Monday, July 13th. Sanford C. Bernstein restated a “market perform” rating and set a $6.00 target price on shares of NIO in a research note on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a report on Friday, May 1st. Finally, Bank of America reaffirmed a “neutral” rating and issued a $6.80 price target on shares of NIO in a research report on Thursday, May 21st. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, NIO has an average rating of “Hold” and an average target price of $6.70.

NIO Trading Down 2.4%

The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $11.61 billion, a P/E ratio of -8.50 and a beta of 0.90. The business’s fifty day simple moving average is $5.26 and its two-hundred day simple moving average is $5.37.

Institutional Investors Weigh In On NIO

Hedge funds have recently made changes to their positions in the stock. Voloridge Investment Management LLC bought a new position in NIO during the third quarter valued at about $89,952,000. Bank of America Corp DE lifted its position in shares of NIO by 99.0% in the 1st 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. Renaissance Technologies LLC lifted its position in shares of NIO by 70.2% in the 1st 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. 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 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 purchasing an additional 5,185,565 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of NIO during the second quarter valued at approximately $19,008,000. 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.