NIO (NYSE:NIO) Stock Price Down 1.3% - What's Next?

Key Points

• NIO shares fell 1.3% to $4.39 in midday trading, with volume down 52% from the stock’s average daily volume.
• Analyst views remain mixed: Goldman Sachs and Zacks Research upgraded the stock, while Weiss Ratings maintained a sell rating. Overall, NIO has a “Hold” consensus rating and an average price target of $6.57.
• NIO has a market capitalization of approximately $10.9 billion, while institutional investors and hedge funds own 48.55% of its shares; the stock trades below both its 50-day and 200-day moving averages.

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price fell 1.3% on Wednesday . The stock traded as low as $4.37 and last traded at $4.39. 17,911,803 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 37,220,613 shares. The stock had previously closed at $4.45.

Analysts Set New Price Targets

NIO has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NIO in a report on Wednesday, July 29th. The Goldman Sachs Group upgraded NIO from a "neutral" rating to a "buy" rating and set a $7.00 target price for the company in a research report on Monday, July 13th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $6.00 price target on shares of NIO in a research note on Friday, May 22nd. Bank of America reissued a "neutral" rating and set a $6.80 price target on shares of NIO in a research report on Thursday, May 21st. Finally, Zacks Research upgraded NIO from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $6.57.

NIO Stock Performance

The firm has a fifty day moving average price of $4.78 and a 200 day moving average price of $5.36. The firm has a market cap of $10.90 billion, a PE ratio of -7.98 and a beta of 0.91. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Atlantic Union Bankshares Corp lifted its stake in NIO by 98.3% during the fourth 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 during the last quarter. Persistent Asset Partners Ltd purchased a new position in NIO during the 2nd quarter worth $34,000. Merkkuri Wealth Advisors LLC purchased a new position in shares of NIO in the 1st quarter valued at approximately $41,000. Global Retirement Partners LLC purchased a new position in NIO during the second quarter worth about $34,000. Finally, Arax Advisory Partners lifted its holdings 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 acquiring an additional 3,487 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

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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