NIO (NYSE:NIO) Hits New 52-Week Low – What’s Next?

NIO Inc. (NYSE:NIO) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $4.35 and last traded at $4.3750, with a volume of 32243011 shares trading hands. The stock had previously closed at $4.63.

Analysts Set New Price Targets

NIO has been the topic of several research reports. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $6.00 target price on shares of NIO in a report on Friday, May 22nd. Zacks Research raised NIO from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a report on Wednesday, July 29th. Bank of America reiterated a “neutral” rating and set a $6.80 target price on shares of NIO in a research report on Thursday, May 21st. Finally, The Goldman Sachs Group raised shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.57.

NIO Price Performance

The firm has a market capitalization of $11.04 billion, a P/E ratio of -8.08 and a beta of 0.91. The firm has a 50 day moving average price of $4.78 and a 200-day moving average price of $5.36. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in shares of 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 acquiring an additional 5,962,731 shares during the last quarter. Bank of America Corp DE raised its position 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 worth $85,800,000 after purchasing an additional 7,079,903 shares during the period. Voloridge Investment Management LLC raised its position in NIO by 14.4% in the 4th quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company’s stock worth $68,843,000 after purchasing an additional 1,694,023 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NIO by 3,966.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock worth $20,255,000 after purchasing an additional 5,185,565 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in NIO by 67.2% in the first quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company’s stock worth $30,314,000 after purchasing an additional 2,020,754 shares during the last quarter. 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.