NIO (NYSE:NIO) Shares Gap Down – Here’s Why

NIO Inc. (NYSE:NIO)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $4.82, but opened at $4.63. NIO shares last traded at $4.5650, with a volume of 11,257,912 shares trading hands.

Analyst Ratings Changes

A number of research firms recently issued reports on NIO. The Goldman Sachs Group raised NIO from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Monday, July 13th. Bank of America reiterated a “neutral” rating and set a $6.80 price target on shares of NIO in a research report on Thursday, May 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a research note on Wednesday, July 29th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $6.00 price objective on shares of NIO in a research report on Friday, May 22nd. Finally, Zacks Research upgraded NIO from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.70.

NIO Trading Down 4.3%

The business’s fifty day simple moving average is $4.97 and its 200 day simple moving average is $5.36. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. The stock has a market cap of $11.46 billion, a P/E ratio of -8.35 and a beta of 0.91.

Hedge Funds Weigh In On NIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in NIO by 70.2% in the first quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock valued at $87,146,000 after purchasing an additional 5,962,731 shares in the last quarter. Bank of America Corp DE raised its stake 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 buying an additional 7,079,903 shares during the period. Voloridge Investment Management LLC grew its stake in NIO by 14.4% in the fourth quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company’s stock valued at $68,843,000 after acquiring an additional 1,694,023 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of NIO by 3,966.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock valued at $20,255,000 after purchasing an additional 5,185,565 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in NIO by 67.2% during the 1st quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company’s stock worth $30,314,000 after purchasing an additional 2,020,754 shares in 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.