NIO (NYSE:NIO) Stock Price Down 4.3% – Here’s Why

Shares of NIO Inc. (NYSE:NIO) were down 4.3% during trading on Tuesday . The stock traded as low as $4.51 and last traded at $4.6150. Approximately 45,256,280 shares changed hands during mid-day trading, an increase of 19% from the average session volume of 37,889,098 shares. The stock had previously closed at $4.82.

Analyst Ratings Changes

NIO has been the subject of a number of research reports. Sanford C. Bernstein reissued a “market perform” rating and set a $6.00 target price on shares of NIO in a research report on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a report on Wednesday, July 29th. Zacks Research raised NIO from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. The Goldman Sachs Group upgraded NIO from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Monday, July 13th. Finally, Bank of America reiterated a “neutral” rating and set a $6.80 target price on shares of NIO in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, NIO has a consensus rating of “Moderate Buy” and a consensus price target of $6.70.

NIO Stock Performance

The business has a 50 day moving average of $4.92 and a 200-day moving average of $5.36. The company has a market capitalization of $11.16 billion, a P/E ratio of -8.15 and a beta of 0.91. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01.

Hedge Funds Weigh In On NIO

Large investors have recently modified their holdings of the company. Atlantic Union Bankshares Corp grew its position in shares of NIO by 98.3% during the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after purchasing an additional 2,950 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in shares of NIO in the second quarter worth $34,000. Merkkuri Wealth Advisors LLC purchased a new stake in shares of NIO in the first quarter worth $41,000. Global Retirement Partners LLC bought a new stake in NIO during the second quarter valued at $34,000. Finally, Arax Advisory Partners boosted its stake in NIO by 81.6% during the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after buying an additional 3,487 shares during the period. 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.