NIO (NYSE:NIO) Stock Price Down 2.7% – Here’s Why

NIO Inc. (NYSE:NIO)’s stock price dropped 2.7% during mid-day trading on Tuesday . The company traded as low as $4.88 and last traded at $4.8850. 22,190,532 shares traded hands during trading, a decline of 45% from the average session volume of 40,627,895 shares. The stock had previously closed at $5.02.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NIO. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. HSBC raised NIO from a “hold” rating to a “buy” rating and raised their price objective for the company from $4.80 to $6.80 in a research note on Friday, March 13th. Bank of America reiterated a “neutral” rating and issued a $6.80 target price on shares of NIO in a research report on Thursday, May 21st. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $6.00 price target on shares of NIO in a research note on Friday, May 22nd. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.70.

NIO Stock Down 2.3%

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 stock has a market capitalization of $11.88 billion, a P/E ratio of -8.72 and a beta of 0.90. The firm has a 50-day simple moving average of $5.48 and a 200 day simple moving average of $5.38.

NIO (NYSE:NIO) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.04 earnings per share for the quarter. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%.The company had revenue of $4.95 billion for the quarter. On average, equities research analysts forecast that NIO Inc. will post -0.13 EPS for the current year.

Hedge Funds Weigh In On NIO

Several large investors have recently modified their holdings of NIO. Aspex Management HK Ltd acquired a new position in NIO during the 3rd quarter worth about $266,700,000. Ghisallo Capital Management LLC bought a new stake in NIO in the third quarter valued at approximately $91,440,000. Voloridge Investment Management LLC acquired a new stake in NIO during the 3rd quarter valued at approximately $89,952,000. Quadrature Capital Ltd acquired a new stake in NIO during the 3rd quarter valued at approximately $58,308,000. Finally, Bank of America Corp DE raised its holdings in NIO by 99.0% during the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after purchasing an additional 7,079,903 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

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.