NIO (NYSE:NIO) Stock Price Down 5.5% – Here’s Why

NIO Inc. (NYSE:NIO) traded down 5.5% on Friday . The stock traded as low as $5.33 and last traded at $5.3750. 36,980,419 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 42,886,063 shares. The stock had previously closed at $5.69.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Bank of America reaffirmed a “neutral” rating and issued a $6.80 price target on shares of NIO in a research report on Thursday, May 21st. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $6.00 price target on shares of NIO in a research report on Friday, May 22nd. Finally, Nomura raised shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target on the stock in a research report on Wednesday, March 11th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.70.

NIO Stock Performance

The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01. The stock has a market cap of $12.35 billion, a PE ratio of -9.77 and a beta of 0.92. The company’s 50 day simple moving average is $6.05 and its 200 day simple moving average is $5.42.

NIO (NYSE:NIO) last posted its quarterly earnings data 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 8.78% and a negative return on equity of 318.96%. Analysts expect that NIO Inc. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On NIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Atlantic Union Bankshares Corp increased its stake in NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after buying an additional 2,950 shares during the last quarter. Arax Advisory Partners increased its stake 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 during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of NIO during the 4th quarter worth approximately $41,000. Merkkuri Wealth Advisors LLC purchased a new stake in shares of NIO during the 1st quarter worth approximately $41,000. Finally, MV Capital Management Inc. purchased a new stake in shares of NIO during the 4th quarter worth approximately $42,000. Hedge funds and other 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.