NIO (NYSE:NIO) Stock Price Down 2.4% – Here’s Why

NIO Inc. (NYSE:NIO) shares fell 2.4% on Wednesday . The company traded as low as $6.40 and last traded at $6.4250. 39,275,230 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 45,221,430 shares. The stock had previously closed at $6.58.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NIO. Dbs Bank upgraded NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. Nomura upgraded NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price on the stock in a report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. Macquarie Infrastructure upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.10 target price on the stock in a report on Thursday, January 15th. Finally, Bank of America reiterated a “neutral” rating on shares of NIO in a report on Tuesday, March 10th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.80.

NIO Trading Down 0.6%

The firm has a market cap of $15.69 billion, a P/E ratio of -7.04 and a beta of 0.99. The company has a 50 day moving average of $5.58 and a 200 day moving average of $5.69. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.87 and a current ratio of 0.98.

NIO (NYSE:NIO) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.04 EPS for the quarter. The business had revenue of $4.95 billion during the quarter. NIO had a negative return on equity of 924.56% and a negative net margin of 17.21%. Analysts predict that NIO Inc. will post -1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Several large investors have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in NIO by 3,966.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock worth $20,255,000 after purchasing an additional 5,185,565 shares during the period. Franklin Resources Inc. boosted its position in NIO by 50.9% during the second quarter. Franklin Resources Inc. now owns 17,707 shares of the company’s stock worth $61,000 after purchasing an additional 5,974 shares during the period. Invesco Ltd. boosted its position in NIO by 22.7% during the second quarter. Invesco Ltd. now owns 2,738,308 shares of the company’s stock worth $9,392,000 after purchasing an additional 506,618 shares during the period. First Trust Advisors LP boosted its position in NIO by 67.4% during the second quarter. First Trust Advisors LP now owns 73,280 shares of the company’s stock worth $251,000 after purchasing an additional 29,501 shares during the period. Finally, AXA S.A. bought a new stake in NIO during the second quarter worth approximately $64,000. 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.