NIO (NYSE:NIO) Stock Price Down 2.7% – What’s Next?

Shares of NIO Inc. (NYSE:NIO) traded down 2.7% during mid-day trading on Tuesday . The stock traded as low as $4.88 and last traded at $4.8850. Approximately 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.

Wall Street Analysts Forecast Growth

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

NIO Stock Down 2.7%

The firm’s 50 day simple moving average is $5.53 and its 200 day simple moving average is $5.38. The company has a market cap of $12.13 billion, a price-to-earnings ratio of -8.88 and a beta of 0.90. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94.

NIO (NYSE:NIO) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%.The business had revenue of $4.95 billion during the quarter. Sell-side analysts anticipate that NIO Inc. will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

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