NIO (NYSE:NIO) Stock Price Down 3.9% – Here’s Why

Shares of NIO Inc. (NYSE:NIO) fell 3.9% during mid-day trading on Monday . The company traded as low as $4.38 and last traded at $4.5150. 66,559,315 shares traded hands during trading, an increase of 50% from the average session volume of 44,404,391 shares. The stock had previously closed at $4.70.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $7.00 price target on shares of NIO in a report on Thursday, October 30th. Citigroup lowered their target price on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Weiss Ratings restated a “sell (d-)” rating on shares of NIO in a research report on Monday, December 29th. Macquarie upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target on the stock in a report on Thursday, January 15th. Finally, Barclays boosted their price objective on NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Friday, November 28th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.83.

NIO Stock Performance

The stock has a market cap of $9.42 billion, a P/E ratio of -3.11 and a beta of 1.10. The stock has a fifty day simple moving average of $4.96 and a 200-day simple moving average of $5.77. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 2.36.

Institutional Investors Weigh In On NIO

Several institutional investors have recently added to or reduced their stakes in NIO. Farther Finance Advisors LLC raised its stake in shares of NIO by 148.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock valued at $37,000 after purchasing an additional 2,877 shares during the period. Hedeker Wealth LLC acquired a new stake in NIO in the 2nd quarter valued at approximately $43,000. Allworth Financial LP raised its position in NIO by 183.5% in the 3rd quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock valued at $50,000 after buying an additional 4,269 shares during the last quarter. Sandbox Financial Partners LLC bought a new stake in NIO in the 4th quarter valued at approximately $51,000. Finally, Westfuller Advisors LLC acquired a new position in NIO during the 4th quarter worth approximately $60,000. 48.55% of the stock is owned by 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.