NIO (NYSE:NIO) Stock Price Down 2.3% - Here's What Happened

Key Points

• NIO shares fell 2.3% during Thursday trading, dipping as low as $4.72 before last trading at $4.7850 on lighter-than-average volume.
• Analyst sentiment is mixed: several firms recently upgraded the stock, but Weiss Ratings maintained a sell rating. Overall, the consensus rating remains Hold with an average price target of $6.70.
• Fundamentals remain under pressure, with NIO reporting a recent quarterly EPS of $0.04 and analysts expecting a full-year EPS loss. The company also carries a debt-to-equity ratio of 1.94 and a negative net margin.

NIO Inc. (NYSE:NIO - Get Free Report) was down 2.3% during mid-day trading on Thursday . The company traded as low as $4.72 and last traded at $4.7850. 24,566,556 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 40,329,871 shares. The stock had previously closed at $4.90.

Analyst Ratings Changes

Several brokerages have recently commented on NIO. Dbs Bank upgraded shares of NIO from a "hold" rating to a "moderate buy" rating in a research note on Monday, March 16th. HSBC raised shares of NIO from a "hold" rating to a "buy" rating and lifted their price objective for the company from $4.80 to $6.80 in a research note on Friday, March 13th. Nomura upgraded 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. Sanford C. Bernstein reissued a "market perform" rating and set a $6.00 target price on shares of NIO in a research report on Friday, May 22nd. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of NIO in a report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $6.70.

NIO Stock Down 2.3%

The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94. The business has a 50-day simple moving average of $5.48 and a 200-day simple moving average of $5.38. The stock has a market cap of $11.88 billion, a P/E ratio of -8.70 and a beta of 0.90.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.04 EPS for the quarter. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. The company had revenue of $4.95 billion for the quarter. Analysts expect that NIO Inc. will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Atlantic Union Bankshares Corp grew its position in shares of NIO by 98.3% in the fourth 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 during the last quarter. Arax Advisory Partners increased its stake in shares of NIO by 81.6% in the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company's stock worth $40,000 after purchasing an additional 3,487 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of NIO during the 4th quarter worth about $41,000. Merkkuri Wealth Advisors LLC acquired a new position in shares of NIO during the 1st quarter worth about $41,000. Finally, MV Capital Management Inc. acquired a new position in shares of NIO during the 4th quarter worth about $42,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.