NIO Inc. (NYSE:NIO - Get Free Report)'s share price fell 3.3% during trading on Friday . The company traded as low as $4.47 and last traded at $4.4850. Approximately 23,632,987 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 38,902,918 shares. The stock had previously closed at $4.64.
Analyst Ratings Changes
A number of research firms recently issued reports on NIO. Bank of America reiterated a "neutral" rating and set a $6.80 price objective on shares of NIO in a research note on Thursday, May 21st. Sanford C. Bernstein reiterated a "market perform" rating and set a $6.00 price target on shares of NIO in a research report on Friday, May 22nd. The Goldman Sachs Group raised shares of NIO from a "neutral" rating to a "buy" rating and set a $7.00 price target on the stock in a report on Monday, July 13th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of NIO in a research report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $6.70.
View Our Latest Analysis on NIO
NIO Stock Down 3.3%
The company has a 50 day moving average of $5.19 and a 200-day moving average of $5.36. 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 company has a market cap of $11.14 billion, a P/E ratio of -8.15 and a beta of 0.90.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. Atlantic Union Bankshares Corp lifted its position in NIO by 98.3% during 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 holdings in shares of NIO by 81.6% in the 4th 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 last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of NIO in the 4th quarter worth $41,000. Merkkuri Wealth Advisors LLC purchased a new stake in shares of NIO during the 1st quarter valued at $41,000. Finally, MV Capital Management Inc. purchased a new stake in shares of NIO during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 48.55% of the company's stock.
About NIO
(
Get Free Report)
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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