NIO (NYSE:NIO) Stock Price Down 3.8% – What’s Next?

NIO Inc. (NYSE:NIO) shares traded down 3.8% during mid-day trading on Thursday. The stock traded as low as $3.36 and last traded at $3.4050. Approximately 38,621,353 shares changed hands during trading, an increase of 4% from the average daily volume of 37,163,672 shares. The stock had previously closed at $3.54.

Key Stories Impacting NIO

Here are the key news stories impacting NIO this week:

• Positive Sentiment: NIO participated in a broader rally among Chinese EV manufacturers, while U.S.-focused rival Rivian moved lower. The sector rotation suggests investors are favoring automakers with direct exposure to China’s EV market. Nio Jumps 5% as Chinese EV Names Rally, XPeng Climbs 4%; Rivian Slips
• Positive Sentiment: NIO reportedly signed a battery-related deal with Geely. The agreement could support battery sourcing and operating efficiency, though the available report provides limited details about its financial impact. NIO signs Geely battery deal: what it means for NIO Inc. stock
• Positive Sentiment: NIO’s Onvo brand reached 200,000 deliveries, while battery-swap activity set another record with 183,664 swaps in a single day. The milestones reinforce adoption of NIO’s vehicles and battery-swapping ecosystem. NIO Stock Eyes End To 5-Week Slump

Wall Street Analyst Weigh In

A number of research firms have issued reports on NIO. The Goldman Sachs Group reiterated a “buy” rating and set a $6.10 target price on shares of NIO in a report on Friday, September 4th. Sanford C. Bernstein cut their target price on shares of NIO from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research note on Wednesday, July 29th. Citigroup restated a “buy” rating on shares of NIO in a report on Tuesday, September 1st. Finally, Royal Bank Of Canada downgraded shares of NIO to a “sector perform” rating in a research note on Thursday, September 3rd. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.87.

NIO Stock Up 5.1%

The firm’s 50-day moving average price is $4.01 and its two-hundred day moving average price is $5.02. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.89 and a current ratio of 1.02. The firm has a market cap of $8.90 billion, a PE ratio of -13.28 and a beta of 0.92.

NIO (NYSE:NIO) last posted its earnings results on Saturday, August 15th. The company reported $0.00 EPS for the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. The firm had revenue of $4.73 billion for the quarter. As a group, equities research analysts expect that NIO Inc. will post -0.13 EPS for the current fiscal year.

Institutional Trading of NIO

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in NIO by 70.2% during the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock worth $87,146,000 after buying an additional 5,962,731 shares during the last quarter. Bank of America Corp DE boosted its stake in NIO by 99.0% during the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after purchasing an additional 7,079,903 shares during the period. SG Americas Securities LLC grew its position in NIO by 67.2% during the 1st quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company’s stock worth $30,314,000 after purchasing an additional 2,020,754 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of NIO in the second quarter valued at about $19,008,000. Finally, Hsbc Holdings PLC grew its holdings in shares of NIO by 651.5% during the second quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock worth $8,051,000 after buying an additional 1,387,656 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Company Profile

NIO Inc is a Chinese technology and electric vehicle company headquartered in Shanghai. Founded in 2014, the company designs, develops and sells smart electric vehicles, including SUVs, sedans and other passenger vehicles. Its product portfolio has included models such as the ES6, ES7, ES8, ET5, ET5T and ET7, with model names varying by market.

In addition to vehicle sales, NIO provides related services and technologies, including battery-swapping stations, charging services, mobile charging, digital connectivity and driver-assistance features.