NIO (NYSE:NIO) Hits New 52-Week Low – Here’s Why

Shares of NIO Inc. (NYSE:NIO) hit a new 52-week low on Monday . The stock traded as low as $4.35 and last traded at $4.3750, with a volume of 32243011 shares. The stock had previously closed at $4.63.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NIO shares. 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 target price 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 restated a “neutral” rating and set a $6.80 price target on shares of NIO in a 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 objective for the company in a research note on Monday, July 13th. One investment 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 assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.70.

NIO Trading Down 5.5%

The company’s fifty day moving average is $4.81 and its 200-day moving average is $5.36. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $10.86 billion, a P/E ratio of -7.95 and a beta of 0.91.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently made changes to their positions in the business. Atlantic Union Bankshares Corp lifted its position in shares of NIO by 98.3% during the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after purchasing an additional 2,950 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in NIO during the 2nd quarter valued at approximately $34,000. Global Retirement Partners LLC acquired a new stake in NIO in the 2nd quarter valued at approximately $34,000. Arax Advisory Partners grew its holdings 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 buying an additional 3,487 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in NIO in the 4th quarter worth approximately $41,000. 48.55% of the stock is currently owned by institutional investors.

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.