NIO (NYSE:NIO) Trading Down 2.1% – What’s Next?

Shares of NIO Inc. (NYSE:NIO) were down 2.1% during trading on Friday . The company traded as low as $4.81 and last traded at $4.8850. Approximately 22,335,905 shares were traded during trading, a decline of 43% from the average daily volume of 39,525,230 shares. The stock had previously closed at $4.99.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Bank of America reissued a “neutral” rating and issued a $6.80 price objective on shares of NIO in a research report on Thursday, May 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a report on Friday, May 1st. The Goldman Sachs Group upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Monday, July 13th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $6.00 price target on shares of NIO in a report on Friday, May 22nd. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.70.

NIO Stock Down 2.1%

The stock’s fifty day simple moving average is $5.31 and its 200-day simple moving average is $5.38. The stock has a market cap of $12.13 billion, a P/E ratio of -8.88 and a beta of 0.90. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01.

Institutional Investors Weigh In On NIO

Several institutional investors have recently made changes to their positions in NIO. Atlantic Union Bankshares Corp increased its stake in NIO by 98.3% during the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after acquiring an additional 2,950 shares during the period. Allworth Financial LP lifted its position in shares of NIO by 183.5% during the 3rd quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock valued at $50,000 after acquiring an additional 4,269 shares during the period. Merkkuri Wealth Advisors LLC acquired a new stake in shares of NIO during the 1st quarter worth $41,000. Arax Advisory Partners grew its holdings in shares of NIO by 81.6% during the 4th quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock worth $40,000 after purchasing an additional 3,487 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of NIO by 120.7% in the first quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock worth $48,000 after purchasing an additional 4,383 shares during the period. 48.55% of the stock is currently owned by 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.