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

NIO Inc. (NYSE:NIO)’s share price was down 2.1% during trading on Tuesday . The company traded as low as $5.70 and last traded at $5.7550. Approximately 22,708,144 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 41,546,516 shares. The stock had previously closed at $5.88.

Wall Street Analyst Weigh In

NIO has been the topic of a number of recent research reports. Bank of America reissued a “neutral” rating on shares of NIO in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price objective on the stock in a report on Wednesday, March 11th. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. Finally, HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and increased their target price for the stock from $4.80 to $6.80 in a report on Friday, March 13th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.80.

NIO Stock Performance

The firm has a market capitalization of $13.22 billion, a price-to-earnings ratio of -5.93 and a beta of 0.97. The stock’s fifty day moving average is $6.05 and its two-hundred day moving average is $5.54. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 2.08.

NIO (NYSE:NIO) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.04 EPS for the quarter. The firm had revenue of $4.95 billion during the quarter. NIO had a negative net margin of 17.21% and a negative return on equity of 924.56%. On average, analysts predict that NIO Inc. will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NIO. Aspex Management HK Ltd bought a new stake in shares of NIO in the third quarter valued at about $266,700,000. WT Asset Management Ltd bought a new position in NIO during the third quarter worth about $142,120,000. Renaissance Technologies LLC raised its stake in NIO by 70.2% in the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock worth $87,146,000 after purchasing an additional 5,962,731 shares in the last quarter. Bank of America Corp DE boosted its holdings in NIO by 99.0% in the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock valued at $85,800,000 after purchasing an additional 7,079,903 shares during the period. Finally, Voloridge Investment Management LLC boosted its holdings in NIO by 14.4% in the 4th quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company’s stock valued at $68,843,000 after purchasing an additional 1,694,023 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.