NIO (NYSE:NIO) Stock Price Down 1.3% – Here’s What Happened

NIO Inc. (NYSE:NIO)’s share price fell 1.3% during trading on Friday . The stock traded as low as $4.70 and last traded at $4.71. 56,305,959 shares changed hands during mid-day trading, an increase of 30% from the average session volume of 43,457,277 shares. The stock had previously closed at $4.77.

Analysts Set New Price Targets

A number of research firms have commented on NIO. Barclays upped their target price on shares of NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Friday, November 28th. The Goldman Sachs Group reissued a “neutral” rating and issued a $7.00 price objective on shares of NIO in a research note on Thursday, October 30th. UBS Group downgraded shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Macquarie upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target for the company in a research note on Thursday, January 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.83.

NIO Trading Down 1.3%

The firm has a market capitalization of $9.83 billion, a price-to-earnings ratio of -3.25 and a beta of 1.05. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.94. The company has a 50-day moving average price of $4.97 and a 200-day moving average price of $5.75.

Institutional Investors Weigh In On NIO

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its stake in shares of NIO by 148.3% during the third quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after purchasing an additional 2,877 shares during the last quarter. Allworth Financial LP increased its stake 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 period. Aries Wealth Management purchased a new position in NIO during the 3rd quarter worth $76,000. Concurrent Investment Advisors LLC acquired a new stake in shares of NIO in the 3rd quarter worth $77,000. Finally, Strategies Wealth Advisors LLC purchased a new stake in shares of NIO in the third quarter valued at about $77,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.