NIO (NYSE:NIO) Stock Price Down 5.5% – Here’s Why

NIO Inc. (NYSE:NIO) shares fell 5.5% during trading on Friday . The company traded as low as $5.33 and last traded at $5.3750. 36,980,419 shares changed hands during trading, a decline of 14% from the average session volume of 42,886,063 shares. The stock had previously closed at $5.69.

Wall Street Analyst Weigh In

A number of brokerages have commented on NIO. Bank of America reaffirmed a “neutral” rating and set a $6.80 price target on shares of NIO in a research report on Thursday, May 21st. HSBC raised shares of NIO from a “hold” rating to a “buy” rating and upped their price target for the company from $4.80 to $6.80 in a research report on Friday, March 13th. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Finally, Nomura raised shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target on the stock in a research report on Wednesday, March 11th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.70.

NIO Stock Performance

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 has a 50 day moving average price of $6.05 and a 200 day moving average price of $5.42. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of -9.77 and a beta of 0.92.

NIO (NYSE:NIO) last issued its earnings results on Saturday, February 14th. The company reported $0.04 EPS for the quarter. The company had revenue of $4.95 billion during the quarter. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%. Equities research analysts predict that NIO Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of NIO

Several large investors have recently made changes to their positions in NIO. Atlantic Union Bankshares Corp grew its stake in shares of NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after buying an additional 2,950 shares during the period. Arax Advisory Partners lifted its position in NIO by 81.6% in the 4th quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after acquiring an additional 3,487 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in NIO in the 4th quarter valued at about $41,000. Merkkuri Wealth Advisors LLC bought a new position in NIO in the 1st quarter valued at about $41,000. Finally, MV Capital Management Inc. bought a new position in NIO in the 4th quarter valued at about $42,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Company Profile

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.