NIO (NYSE:NIO) Shares Down 2.8% - Here's Why

Key Points

• NIO shares fell 2.8% midday to $4.90 (intraday low $4.73) with ~47.25M shares traded, slightly below the average session volume.
• Analysts are mixed: the consensus rating is Hold with a consensus price target of $6.83, while individual firms range from sell to buy and have recently moved targets (e.g., Goldman $7, Barclays $4, Citi $6.90, UBS downgraded).
• Several hedge funds built sizable new Q3 positions and institutional investors now own 48.55% of NIO, even as the company shows a negative P/E (-3.38) and elevated debt-to-equity (2.36).

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price traded down 2.8% during mid-day trading on Monday . The company traded as low as $4.73 and last traded at $4.90. 47,248,660 shares traded hands during trading, a decline of 4% from the average session volume of 49,014,172 shares. The stock had previously closed at $5.04.

Analysts Set New Price Targets

Several brokerages have recently commented on NIO. The Goldman Sachs Group restated a "neutral" rating and issued a $7.00 price objective on shares of NIO in a report on Thursday, October 30th. Weiss Ratings restated a "sell (d-)" rating on shares of NIO in a research report on Monday, December 29th. Barclays lifted their price objective on NIO from $3.00 to $4.00 and gave the company an "underweight" rating in a research note on Friday, November 28th. UBS Group lowered NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, November 25th. Finally, Citigroup dropped their target price on NIO from $8.60 to $6.90 and set a "buy" rating for the company in a research report on Wednesday, November 26th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, NIO currently has an average rating of "Hold" and a consensus price target of $6.83.

NIO Price Performance

The stock's 50 day moving average is $4.86 and its two-hundred day moving average is $5.77. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.94 and a quick ratio of 0.83. The stock has a market capitalization of $10.23 billion, a PE ratio of -3.38 and a beta of 1.10.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Aspex Management HK Ltd purchased a new stake in NIO during the third quarter worth approximately $266,700,000. WT Asset Management Ltd purchased a new position in NIO in the third quarter valued at approximately $142,120,000. Ghisallo Capital Management LLC acquired a new stake in NIO during the third quarter worth approximately $91,440,000. Voloridge Investment Management LLC purchased a new stake in shares of NIO during the 3rd quarter worth approximately $89,952,000. Finally, RWC Asset Advisors US LLC purchased a new position in shares of NIO in the 3rd quarter valued at $79,761,000. Hedge funds and other institutional investors 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.

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