NIO (NYSE:NIO) Reaches New 1-Year Low – What’s Next?

NIO Inc. (NYSE:NIO) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $4.30 and last traded at $4.32, with a volume of 21085284 shares. The stock had previously closed at $4.37.

Analyst Ratings Changes

NIO has been the topic of a number of recent analyst reports. Bank of America reiterated a “neutral” rating and set a $6.80 price target on shares of NIO in a report on Thursday, May 21st. Sanford C. Bernstein restated a “market perform” rating and set a $6.00 price target on shares of NIO in a research report on Friday, May 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a report on Wednesday, July 29th. Zacks Research upgraded shares of NIO from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, The Goldman Sachs Group raised shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.57.

NIO Stock Performance

The company’s fifty day moving average is $4.74 and its 200 day moving average is $5.35. The company has a market capitalization of $10.73 billion, a P/E ratio of -7.85 and a beta of 0.91. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94.

Hedge Funds Weigh In On NIO

Several hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LP boosted its stake in NIO by 11.0% in the 2nd quarter. Corient Private Wealth LP now owns 46,441 shares of the company’s stock worth $235,000 after purchasing an additional 4,593 shares during the period. HighTower Advisors LLC boosted its position in shares of NIO by 15.7% in the second quarter. HighTower Advisors LLC now owns 68,866 shares of the company’s stock valued at $348,000 after acquiring an additional 9,357 shares during the period. XY Capital Ltd grew its stake in NIO by 26.5% during the second quarter. XY Capital Ltd now owns 562,296 shares of the company’s stock valued at $2,845,000 after acquiring an additional 117,946 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in NIO by 20.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 28,172 shares of the company’s stock worth $140,000 after acquiring an additional 4,877 shares during the period. Finally, Nykredit A S purchased a new stake in NIO in the 2nd quarter worth approximately $964,000. 48.55% of the stock is currently 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.