NIO (NYSE:NIO) Stock Price Down 1.5% – Here’s What Happened

NIO Inc. (NYSE:NIO)’s share price dropped 1.5% on Tuesday . The stock traded as low as $6.00 and last traded at $6.1450. Approximately 23,661,887 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 45,307,188 shares. The stock had previously closed at $6.24.

Analysts Set New Price Targets

NIO has been the subject of several recent analyst reports. Bank of America reaffirmed a “neutral” rating on shares of NIO in a report on Tuesday, March 10th. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. HSBC raised shares of NIO from a “hold” rating to a “buy” rating and upped their target price for the stock from $4.80 to $6.80 in a report on Friday, March 13th. Nomura raised shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price for the company in a report on Wednesday, March 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, NIO presently has a consensus rating of “Hold” and an average target price of $6.80.

NIO Price Performance

The firm’s fifty day simple moving average is $5.25 and its 200 day simple moving average is $5.71. The firm has a market cap of $14.12 billion, a P/E ratio of -6.34 and a beta of 0.99. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.87 and a current ratio of 0.98.

Institutional Trading of NIO

Several hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC raised its position in shares of NIO by 48.8% during the 4th quarter. Hsbc Holdings PLC now owns 680,382 shares of the company’s stock valued at $3,445,000 after buying an additional 223,178 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of NIO by 12.5% during the 4th quarter. Corient Private Wealth LLC now owns 61,129 shares of the company’s stock valued at $312,000 after buying an additional 6,772 shares in the last quarter. MV Capital Management Inc. purchased a new stake in shares of NIO during the 4th quarter valued at about $42,000. Compound Planning Inc. raised its position in shares of NIO by 12.9% during the 4th quarter. Compound Planning Inc. now owns 41,449 shares of the company’s stock valued at $211,000 after buying an additional 4,721 shares in the last quarter. Finally, Invesco Ltd. raised its position in NIO by 47.8% in the 4th quarter. Invesco Ltd. now owns 3,997,775 shares of the company’s stock worth $20,389,000 after purchasing an additional 1,292,715 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

About NIO

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.