NIO (NYSE:NIO) Stock Price Down 1.5% – Here’s What Happened

NIO Inc. (NYSE:NIO) traded down 1.5% on Tuesday . The company traded as low as $6.00 and last traded at $6.1450. 23,661,887 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 45,307,188 shares. The stock had previously closed at $6.24.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and boosted their target price for the company from $4.80 to $6.80 in a research note on Friday, March 13th. Bank of America reiterated a “neutral” rating on shares of NIO in a research note on Tuesday, March 10th. Dbs Bank upgraded shares of NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Finally, Macquarie Infrastructure upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 target price for the company in a research note on Thursday, January 15th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.80.

NIO Stock Performance

The business’s 50-day moving average price is $5.25 and its 200-day moving average price is $5.71. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.87 and a current ratio of 0.98. The stock has a market cap of $14.12 billion, a P/E ratio of -6.34 and a beta of 0.99.

Institutional Investors Weigh In On NIO

A number of hedge funds have recently modified their holdings of the business. Gladstone Institutional Advisory LLC grew its position in shares of NIO by 12.8% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 13,231 shares of the company’s stock valued at $101,000 after acquiring an additional 1,500 shares during the period. MGO One Seven LLC grew its position in shares of NIO by 10.6% during the 3rd quarter. MGO One Seven LLC now owns 16,208 shares of the company’s stock valued at $124,000 after acquiring an additional 1,560 shares during the period. Insigneo Advisory Services LLC grew its position in shares of NIO by 4.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 43,067 shares of the company’s stock valued at $328,000 after acquiring an additional 1,806 shares during the period. Tidal Investments LLC boosted its holdings in NIO by 0.9% in the 2nd quarter. Tidal Investments LLC now owns 287,140 shares of the company’s stock worth $985,000 after buying an additional 2,433 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its holdings in NIO by 11.6% in the 4th quarter. TD Waterhouse Canada Inc. now owns 24,884 shares of the company’s stock worth $127,000 after buying an additional 2,586 shares during the period. 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.