NIO (NYSE:NIO) Shares Down 2.2% - Here's What Happened

Key Points

• NIO shares fell 2.2% to $4.6550, with trading volume down 33% from the stock’s average session volume.
• Analyst sentiment remains mixed but leans positive: NIO has an overall “Moderate Buy” rating and an average price target of $6.70, despite one sell rating.
• Institutional and hedge-fund investors own 48.55% of NIO; several firms recently increased their holdings or initiated new positions.

NIO Inc. (NYSE:NIO - Get Free Report) shares dropped 2.2% on Wednesday . The company traded as low as $4.64 and last traded at $4.6550. 25,544,567 shares traded hands during trading, a decline of 33% from the average session volume of 38,077,707 shares. The stock had previously closed at $4.76.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America reiterated a "neutral" rating and set a $6.80 price target on shares of NIO in a research note on Thursday, May 21st. The Goldman Sachs Group upgraded shares of NIO from a "neutral" rating to a "buy" rating and set a $7.00 price objective on the stock in a research report on Monday, July 13th. 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 report on Friday, May 22nd. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of NIO in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $6.70.

NIO Price Performance

The stock has a market capitalization of $11.56 billion, a P/E ratio of -8.46 and a beta of 0.91. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. The stock has a 50 day moving average of $5.05 and a 200-day moving average of $5.36.

Institutional Trading of NIO

A number of hedge funds have recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp raised its holdings in shares of 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 purchasing an additional 2,950 shares in the last quarter. Arax Advisory Partners lifted its holdings in NIO by 81.6% during the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company's stock worth $40,000 after buying an additional 3,487 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in NIO during the fourth quarter worth $41,000. Merkkuri Wealth Advisors LLC bought a new stake in NIO during the 1st quarter valued at $41,000. Finally, MV Capital Management Inc. bought a new stake in NIO during the 4th quarter valued at $42,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

About NIO

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.

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