NIO (NYSE:NIO) Shares Down 3.5% – Here’s What Happened

NIO Inc. (NYSE:NIO)’s share price traded down 3.5% during trading on Monday . The company traded as low as $5.83 and last traded at $5.8850. 30,653,316 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 41,739,359 shares. The stock had previously closed at $6.10.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Nomura upgraded NIO from a “neutral” rating to a “buy” rating and set a $6.60 price objective on the stock in a research note on Wednesday, March 11th. HSBC upgraded NIO from a “hold” rating to a “buy” rating and boosted their price target for the company from $4.80 to $6.80 in a research note on Friday, March 13th. Dbs Bank upgraded NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Bank of America restated a “neutral” rating on shares of NIO in a research note on Tuesday, March 10th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, NIO currently has a consensus rating of “Hold” and an average target price of $6.80.

NIO Stock Down 3.5%

The company has a debt-to-equity ratio of 2.08, a current ratio of 0.98 and a quick ratio of 0.87. The stock has a market capitalization of $13.52 billion, a P/E ratio of -6.07 and a beta of 0.97. The firm has a 50 day moving average of $6.03 and a 200-day moving average of $5.54.

NIO (NYSE:NIO) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. NIO had a negative return on equity of 924.56% and a negative net margin of 17.21%.The firm had revenue of $4.95 billion for the quarter. On average, equities research analysts expect that NIO Inc. will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Several large investors have recently modified their holdings of NIO. Aspex Management HK Ltd bought a new stake in shares of NIO in the 3rd quarter valued at approximately $266,700,000. WT Asset Management Ltd bought a new stake in shares of NIO in the 3rd quarter valued at approximately $142,120,000. Ghisallo Capital Management LLC bought a new stake in shares of NIO in the 3rd quarter valued at approximately $91,440,000. Voloridge Investment Management LLC bought a new stake in shares of NIO in the 3rd quarter valued at approximately $89,952,000. Finally, Quadrature Capital Ltd bought a new stake in shares of NIO in the 3rd quarter valued at approximately $58,308,000. 48.55% of the stock is currently owned by institutional investors.

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.