NIO (NYSE:NIO) Stock Price Down 2.7% – Here’s Why

Shares of NIO Inc. (NYSE:NIO) traded down 2.7% on Tuesday . The stock traded as low as $4.88 and last traded at $4.8850. 22,190,532 shares changed 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.

Analyst Ratings Changes

Several brokerages have commented on NIO. Bank of America reiterated a “neutral” rating and issued 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 Friday, May 1st. HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and lifted their price target for the stock from $4.80 to $6.80 in a research report on Friday, March 13th. Nomura raised NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target on the stock in a report on Wednesday, March 11th. Finally, Dbs Bank raised NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, NIO presently has an average rating of “Hold” and a consensus price target of $6.70.

NIO Stock Performance

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

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Aspex Management HK Ltd purchased a new stake in NIO in the 3rd quarter worth approximately $266,700,000. Ghisallo Capital Management LLC purchased a new position in shares of NIO during the 3rd quarter valued at $91,440,000. Voloridge Investment Management LLC purchased a new position in shares of NIO during the 3rd quarter valued at $89,952,000. Quadrature Capital Ltd acquired a new position in shares of NIO in the third quarter worth $58,308,000. Finally, Bank of America Corp DE raised its holdings in shares of NIO by 99.0% during the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after acquiring an additional 7,079,903 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.