NIO (NYSE:NIO) Stock Price Down 2.3% – What’s Next?

NIO Inc. (NYSE:NIO) traded down 2.3% during trading on Thursday . The stock traded as low as $4.72 and last traded at $4.7850. Approximately 24,566,556 shares were traded during mid-day trading, a decline of 39% from the average session volume of 40,329,871 shares. The stock had previously closed at $4.90.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. 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. HSBC raised shares of NIO from a “hold” rating to a “buy” rating and boosted their target price for the stock from $4.80 to $6.80 in a research report on Friday, March 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. Finally, Nomura upgraded 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 research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.70.

NIO Price Performance

The stock has a market cap of $11.88 billion, a price-to-earnings ratio of -8.70 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. The stock’s 50 day simple moving average is $5.48 and its two-hundred day simple moving average is $5.38.

NIO (NYSE:NIO) last announced its quarterly earnings data on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. The company 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, analysts forecast that NIO Inc. will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Aspex Management HK Ltd acquired a new stake in NIO during the third quarter valued at approximately $266,700,000. Renaissance Technologies LLC raised its holdings in shares of NIO by 70.2% in the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock worth $87,146,000 after buying an additional 5,962,731 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of NIO by 99.0% in the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after buying an additional 7,079,903 shares in the last quarter. Voloridge Investment Management LLC lifted its position in shares of NIO by 14.4% during the 4th quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company’s stock worth $68,843,000 after buying an additional 1,694,023 shares during the period. Finally, Ghisallo Capital Management LLC acquired a new stake in NIO in the 3rd quarter valued at $91,440,000. Institutional investors own 48.55% of the company’s stock.

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.