NIO (NYSE:NIO) Stock Price Down 1.1% - Here's What Happened

Key Points

• NIO stock fell 1.1% mid‑day to $5.965 (intraday low $5.91) on roughly 35.06 million shares traded, about 26% below its average daily volume and versus a $6.03 close.
• Several brokers have upgraded NIO recently (HSBC, Nomura, Macquarie), but the MarketBeat consensus remains "Hold" with an average target price of $6.80 (6 Buy, 5 Hold, 2 Sell).
• NIO has a market cap of $13.71 billion, a negative P/E of -6.15 and elevated leverage (debt/equity 2.08), while institutional investors own about 48.55% of the stock after several large new stakes.

NIO Inc. (NYSE:NIO - Get Free Report)'s share price dropped 1.1% during mid-day trading on Tuesday . The company traded as low as $5.91 and last traded at $5.9650. Approximately 35,060,133 shares were traded during trading, a decline of 26% from the average daily volume of 47,102,668 shares. The stock had previously closed at $6.03.

Analysts Set New Price Targets

Several brokerages have weighed in on NIO. HSBC raised NIO from a "hold" rating to a "buy" rating and lifted their target price for the company from $4.80 to $6.80 in a research note on Friday. Nomura raised shares of NIO from a "neutral" rating to a "buy" rating and set a $6.60 price objective for the company in a report on Wednesday, March 11th. Bank of America reiterated a "neutral" rating on shares of NIO in a research report on Tuesday, March 10th. Weiss Ratings restated a "sell (d-)" rating on shares of NIO in a research report on Monday, December 29th. Finally, Macquarie Infrastructure upgraded shares of NIO from a "neutral" rating to an "outperform" rating and set a $6.10 price objective for the company in a report on Thursday, January 15th. Six 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $6.80.

NIO Trading Down 1.1%

The company has a debt-to-equity ratio of 2.08, a current ratio of 0.98 and a quick ratio of 0.87. The business has a fifty day moving average of $4.90 and a 200-day moving average of $5.77. The stock has a market capitalization of $13.71 billion, a price-to-earnings ratio of -6.15 and a beta of 1.11.

Institutional Trading of NIO

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aspex Management HK Ltd bought a new stake in NIO during the third quarter worth approximately $266,700,000. WT Asset Management Ltd acquired a new stake in shares of NIO during the 3rd quarter valued at $142,120,000. Voloridge Investment Management LLC boosted its stake in shares of NIO by 14.4% during the 4th quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company's stock worth $68,843,000 after acquiring an additional 1,694,023 shares in the last quarter. Ghisallo Capital Management LLC acquired a new position in shares of NIO in the 3rd quarter worth $91,440,000. Finally, RWC Asset Advisors US LLC acquired a new stake in shares of NIO during the third quarter worth $79,761,000. 48.55% of the stock is currently owned by institutional investors.

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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