NIO (NYSE:NIO) Trading Down 3.3% – Here’s What Happened

Shares of NIO Inc. (NYSE:NIO) traded down 3.3% during mid-day trading on Friday . The stock traded as low as $4.47 and last traded at $4.4850. 23,632,987 shares changed hands during trading, a decline of 39% from the average session volume of 38,902,918 shares. The stock had previously closed at $4.64.

Analyst Upgrades and Downgrades

NIO has been the topic of a number of research reports. The Goldman Sachs Group raised NIO from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Monday, July 13th. 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. Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. Finally, Bank of America restated a “neutral” rating and issued a $6.80 price objective on shares of NIO in a report on Thursday, May 21st. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, NIO presently has an average rating of “Hold” and an average target price of $6.70.

NIO Stock Down 3.3%

The firm has a market cap of $11.14 billion, a PE ratio of -8.15 and a beta of 0.90. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01. The company’s 50-day simple moving average is $5.19 and its two-hundred day simple moving average is $5.36.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Hoffman Alan N Investment Management raised its position in NIO by 44.0% during the 2nd quarter. Hoffman Alan N Investment Management now owns 108,999 shares of the company’s stock valued at $552,000 after purchasing an additional 33,291 shares during the last quarter. StoneCrest Wealth Management Inc. increased its stake in shares of NIO by 65.9% during the second quarter. StoneCrest Wealth Management Inc. now owns 18,577 shares of the company’s stock valued at $94,000 after buying an additional 7,377 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of NIO during the second quarter valued at approximately $19,008,000. DV Trading LLC lifted its stake in NIO by 134.1% in the first quarter. DV Trading LLC now owns 16,386 shares of the company’s stock worth $99,000 after acquiring an additional 9,386 shares during the period. Finally, Glenmede Trust Co. NA boosted its holdings in NIO by 71.6% in the first quarter. Glenmede Trust Co. NA now owns 22,063 shares of the company’s stock valued at $133,000 after acquiring an additional 9,204 shares in the last quarter. Hedge funds and other 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.