NIO (NYSE:NIO) Stock Price Down 1.6% – Here’s Why

NIO Inc. (NYSE:NIO) was down 1.6% during trading on Tuesday . The stock traded as low as $4.48 and last traded at $4.5250. Approximately 17,906,912 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 37,429,922 shares. The stock had previously closed at $4.60.

Analyst Upgrades and Downgrades

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

NIO Stock Performance

The stock has a market cap of $11.25 billion, a price-to-earnings ratio of -8.24 and a beta of 0.91. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90. The firm has a fifty day moving average of $4.83 and a 200 day moving average of $5.36.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently modified their holdings of NIO. Van ECK Associates Corp raised its holdings in shares of NIO by 0.8% during the 2nd quarter. Van ECK Associates Corp now owns 492,784 shares of the company’s stock worth $2,493,000 after acquiring an additional 4,002 shares during the period. Hsbc Holdings PLC boosted its position in shares of NIO by 651.5% during the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock valued at $8,051,000 after acquiring an additional 1,387,656 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of NIO by 25.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 451,100 shares of the company’s stock valued at $2,283,000 after purchasing an additional 92,114 shares during the period. Persistent Asset Partners Ltd purchased a new stake in shares of NIO in the second quarter valued at about $34,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of NIO in the second quarter valued at about $34,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.