NIO (NYSE:NIO) Trading Down 2.5% – Here’s What Happened

NIO Inc. (NYSE:NIO) traded down 2.5% during mid-day trading on Monday . The company traded as low as $4.23 and last traded at $4.26. Approximately 44,262,926 shares were traded during trading, an increase of 19% from the average daily volume of 37,119,605 shares. The stock had previously closed at $4.37.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NIO shares. Bank of America reissued a “neutral” rating and issued a $6.80 target price on shares of NIO in a report on Thursday, May 21st. Zacks Research raised NIO from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Sanford C. Bernstein reissued a “market perform” rating and issued a $6.00 target price on shares of NIO in a research note on Friday, May 22nd. The Goldman Sachs Group raised NIO from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Monday, July 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.57.

NIO Trading Down 2.5%

The company’s fifty day simple moving average is $4.74 and its two-hundred day simple moving average is $5.35. The company has a market capitalization of $10.58 billion, a price-to-earnings ratio of -7.75 and a beta of 0.91. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94.

Institutional Investors Weigh In On NIO

A number of hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC increased its stake in shares of NIO by 17.4% during the first quarter. V Square Quantitative Management LLC now owns 13,707 shares of the company’s stock worth $83,000 after purchasing an additional 2,027 shares during the period. Tidal Investments LLC boosted its stake in NIO by 0.9% in the 2nd quarter. Tidal Investments LLC now owns 287,140 shares of the company’s stock valued at $985,000 after purchasing an additional 2,433 shares during the period. Wealthspire Advisors LLC boosted its stake in NIO by 26.4% in the 4th quarter. Wealthspire Advisors LLC now owns 12,980 shares of the company’s stock valued at $66,000 after purchasing an additional 2,707 shares during the period. Atlantic Union Bankshares Corp grew its holdings in NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after buying an additional 2,950 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its position in NIO by 9.3% during the 4th quarter. Kestra Advisory Services LLC now owns 35,005 shares of the company’s stock worth $179,000 after buying an additional 2,987 shares during the period. Institutional investors and hedge funds 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.