NIO (NYSE:NIO) Trading Down 2.5% – What’s Next?

Shares of NIO Inc. (NYSE:NIO) were down 2.5% on Wednesday . The stock traded as low as $4.54 and last traded at $4.5650. Approximately 40,149,619 shares were traded during trading, a decline of 12% from the average daily volume of 45,430,949 shares. The stock had previously closed at $4.68.

Wall Street Analysts Forecast Growth

NIO has been the subject of several recent analyst reports. UBS Group downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Mizuho lifted their target price on shares of NIO from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. The Goldman Sachs Group restated a “neutral” rating and set a $7.00 price target on shares of NIO in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. Finally, Macquarie set a $5.30 price objective on shares of NIO in a report on Tuesday, November 25th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.73.

NIO Stock Performance

The firm’s 50 day simple moving average is $5.39 and its 200 day simple moving average is $5.68. The firm has a market capitalization of $9.53 billion, a price-to-earnings ratio of -3.15 and a beta of 1.05. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.94.

Institutional Investors Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. SG Americas Securities LLC lifted its holdings in shares of NIO by 89.9% in the 4th quarter. SG Americas Securities LLC now owns 3,006,407 shares of the company’s stock valued at $15,333,000 after buying an additional 1,423,350 shares during the period. Tuttle Capital Management LLC purchased a new position in NIO during the fourth quarter valued at approximately $152,000. Sandbox Financial Partners LLC acquired a new position in NIO in the fourth quarter valued at approximately $51,000. Allworth Financial LP boosted its position in NIO by 183.5% in the 3rd quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock worth $50,000 after purchasing an additional 4,269 shares in the last quarter. Finally, Cantor Fitzgerald L. P. acquired a new stake in shares of NIO during the 3rd quarter worth approximately $328,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.