NIO (NYSE:NIO) Stock Price Down 1.3% – What’s Next?

NIO Inc. (NYSE:NIO)’s stock price was down 1.3% on Monday . The stock traded as low as $4.76 and last traded at $4.8150. 23,624,332 shares were traded during trading, a decline of 38% from the average session volume of 38,289,422 shares. The stock had previously closed at $4.88.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NIO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research report on Wednesday, July 29th. Sanford C. Bernstein reissued a “market perform” rating and issued a $6.00 price objective on shares of NIO in a research report on Friday, May 22nd. Zacks Research upgraded shares of NIO from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Bank of America reaffirmed a “neutral” rating and set a $6.80 target price on shares of NIO in a research report on Thursday, May 21st. Finally, The Goldman Sachs Group raised shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, NIO presently has an average rating of “Moderate Buy” and a consensus price target of $6.70.

NIO Trading Down 2.2%

The firm has a market capitalization of $11.56 billion, a P/E ratio of -8.46 and a beta of 0.91. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94. The business has a 50-day moving average price of $5.05 and a 200-day moving average price of $5.36.

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NIO by 3,966.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock valued at $20,255,000 after buying an additional 5,185,565 shares in the last quarter. Franklin Resources Inc. increased its stake in NIO by 50.9% in the second quarter. Franklin Resources Inc. now owns 17,707 shares of the company’s stock valued at $61,000 after acquiring an additional 5,974 shares during the period. Invesco Ltd. raised its position in NIO by 22.7% in the second quarter. Invesco Ltd. now owns 2,738,308 shares of the company’s stock worth $9,392,000 after purchasing an additional 506,618 shares in the last quarter. First Trust Advisors LP lifted its stake in NIO by 67.4% during the second quarter. First Trust Advisors LP now owns 73,280 shares of the company’s stock worth $251,000 after purchasing an additional 29,501 shares during the period. Finally, AXA S.A. bought a new position in NIO during the second quarter worth about $64,000. Institutional investors own 48.55% of the company’s stock.

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.