NIO (NYSE:NIO) Trading Down 5.8% – Here’s What Happened

NIO Inc. (NYSE:NIO)’s share price fell 5.8% on Monday . The company traded as low as $4.34 and last traded at $4.3610. 52,139,792 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 37,380,555 shares. The stock had previously closed at $4.63.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NIO. The Goldman Sachs Group upgraded 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. Zacks Research upgraded NIO from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Bank of America reissued a “neutral” rating and set a $6.80 price target on shares of NIO in a research note on Thursday, May 21st. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a report on Wednesday, July 29th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $6.00 price objective on shares of NIO in a research report on Friday, May 22nd. One 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.57.

NIO Stock Up 1.9%

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 stock has a market cap of $11.04 billion, a P/E ratio of -8.08 and a beta of 0.91. The company’s 50 day moving average price is $4.78 and its two-hundred day moving average price is $5.36.

Institutional Investors Weigh In On NIO

A number of institutional investors and hedge funds have recently bought and sold shares of NIO. HighTower Advisors LLC lifted its holdings in shares of NIO by 15.7% in the 2nd quarter. HighTower Advisors LLC now owns 68,866 shares of the company’s stock worth $348,000 after buying an additional 9,357 shares during the period. XY Capital Ltd grew its position in shares of NIO by 26.5% during the 2nd quarter. XY Capital Ltd now owns 562,296 shares of the company’s stock worth $2,845,000 after buying an additional 117,946 shares in the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of NIO by 20.9% during the second quarter. TD Waterhouse Canada Inc. now owns 28,172 shares of the company’s stock valued at $140,000 after buying an additional 4,877 shares during the period. Nykredit A S purchased a new position in shares of NIO during the second quarter valued at $964,000. Finally, Van ECK Associates Corp raised its holdings in shares of NIO by 0.8% in the second quarter. Van ECK Associates Corp now owns 492,784 shares of the company’s stock valued at $2,493,000 after acquiring an additional 4,002 shares in the last quarter. 48.55% of the stock is 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.