NIO (NYSE:NIO) Trading Down 1.2% - Here's What Happened

Key Points

• NIO shares fell 1.2% to $4.595, with trading volume down 38% from the average. The stock traded as low as $4.55 during the session.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $6.70. Goldman Sachs upgraded NIO to “buy” with a $7.00 target, while other firms maintained neutral or sell ratings.
• Institutional investors and hedge funds own 48.55% of NIO, with several firms recently increasing or initiating positions. NIO has a market capitalization of approximately $11.41 billion and negative earnings.

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price was down 1.2% on Thursday . The stock traded as low as $4.55 and last traded at $4.5950. 23,676,303 shares were traded during trading, a decline of 38% from the average daily volume of 37,994,543 shares. The stock had previously closed at $4.65.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NIO. 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 research note on Monday, July 13th. Sanford C. Bernstein reiterated a "market perform" rating and set a $6.00 price target on shares of NIO in a report on Friday, May 22nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NIO in a research report on Wednesday, July 29th. Zacks Research upgraded shares of NIO from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Bank of America restated a "neutral" rating and set a $6.80 price target on shares of NIO in a research note on Thursday, May 21st. One 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $6.70.

NIO Stock Down 1.2%

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 firm has a market capitalization of $11.41 billion, a price-to-earnings ratio of -8.35 and a beta of 0.91. The business has a 50 day moving average of $5.03 and a 200 day moving average of $5.36.

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently made changes to their positions in the company. Atlantic Union Bankshares Corp increased its position in shares of NIO by 98.3% during the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company's stock worth $30,000 after purchasing an additional 2,950 shares in the last quarter. Arax Advisory Partners boosted its position in NIO by 81.6% in the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company's stock valued at $40,000 after buying an additional 3,487 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in NIO during the fourth quarter worth about $41,000. Merkkuri Wealth Advisors LLC bought a new stake in NIO during the first quarter worth about $41,000. Finally, MV Capital Management Inc. acquired a new stake in shares of NIO during the fourth quarter worth approximately $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.

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