NIO (NYSE:NIO) Stock Price Down 3.2% – Here’s Why

NIO Inc. (NYSE:NIO)’s stock price traded down 3.2% during trading on Tuesday . The stock traded as low as $4.68 and last traded at $4.6950. 39,730,025 shares were traded during mid-day trading, a decline of 15% from the average session volume of 46,485,090 shares. The stock had previously closed at $4.85.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Mizuho raised their target price on shares of NIO from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of NIO in a research report on Monday, December 29th. UBS Group downgraded NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. The Goldman Sachs Group reiterated a “neutral” rating and set a $7.00 target price on shares of NIO in a research note on Thursday, October 30th. Finally, Barclays boosted their price target on NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Friday, November 28th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and a consensus target price of $6.73.

NIO Stock Down 3.2%

The stock’s fifty day simple moving average is $5.44 and its 200-day simple moving average is $5.67. The stock has a market cap of $9.80 billion, a P/E ratio of -3.24 and a beta of 1.05. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.94.

Institutional Investors Weigh In On NIO

A number of large investors have recently added to or reduced their stakes in NIO. Aspex Management HK Ltd acquired a new position in NIO in the 3rd quarter valued at $266,700,000. WT Asset Management Ltd bought a new position in shares of NIO in the third quarter worth $142,120,000. Ghisallo Capital Management LLC acquired a new position in NIO in the third quarter valued at about $91,440,000. Voloridge Investment Management LLC bought a new stake in NIO during the third quarter worth about $89,952,000. Finally, RWC Asset Advisors US LLC acquired a new stake in NIO during the third quarter worth about $79,761,000. 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.