NIO (NYSE:NIO) Shares Down 1.2% – Here’s What Happened

NIO Inc. (NYSE:NIO)’s stock price dropped 1.2% on Tuesday . The stock traded as low as $5.71 and last traded at $5.7510. Approximately 24,146,574 shares traded hands during trading, a decline of 48% from the average daily volume of 46,140,691 shares. The stock had previously closed at $5.82.

Wall Street Analyst Weigh In

A number of brokerages have commented on NIO. UBS Group lowered NIO from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Macquarie Infrastructure raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 target price for the company in a research report on Thursday, January 15th. HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and upped their price target for the company from $4.80 to $6.80 in a research note on Friday, March 13th. Barclays raised their price target on shares of NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 28th. Finally, Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, NIO presently has an average rating of “Hold” and an average target price of $6.80.

NIO Stock Performance

The stock has a market cap of $13.21 billion, a P/E ratio of -5.93 and a beta of 1.11. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 2.08. The stock has a 50 day simple moving average of $5.00 and a 200 day simple moving average of $5.75.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NIO. Atlantic Union Bankshares Corp raised its stake in NIO by 98.3% in the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after purchasing an additional 2,950 shares in the last quarter. Farther Finance Advisors LLC grew its stake in NIO by 148.3% during the third quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after buying an additional 2,877 shares in the last quarter. Arax Advisory Partners grew its stake in NIO by 81.6% during the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock worth $40,000 after buying an additional 3,487 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in NIO in the 4th quarter valued at about $41,000. Finally, MV Capital Management Inc. acquired a new position in shares of NIO in the 4th quarter valued at approximately $42,000. 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.