NIO (NYSE:NIO) Stock Price Down 2% – Here’s What Happened
by Tristan Rich · The Markets DailyNIO Inc. (NYSE:NIO – Get Free Report) traded down 2% during trading on Thursday . The stock traded as low as $4.94 and last traded at $4.97. 39,389,863 shares traded hands during trading, a decline of 17% from the average session volume of 47,584,547 shares. The stock had previously closed at $5.07.
Analyst Ratings Changes
Several brokerages have recently weighed in on NIO. 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 report on Thursday, January 15th. Barclays upped their target price on NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Friday, November 28th. Citigroup decreased their price target on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a research note on Wednesday, November 26th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $7.00 price objective on shares of NIO in a research report on Thursday, October 30th. Finally, UBS Group downgraded NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.83.
Read Our Latest Stock Analysis on NIO
NIO Trading Down 0.1%
The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 2.36. The stock’s 50 day moving average is $4.86 and its two-hundred day moving average is $5.76. The company has a market capitalization of $10.32 billion, a PE ratio of -3.41 and a beta of 1.10.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Aspex Management HK Ltd purchased a new stake in shares of NIO during the 3rd quarter worth $266,700,000. WT Asset Management Ltd bought a new position in NIO in the third quarter worth about $142,120,000. Ghisallo Capital Management LLC purchased a new stake in shares of NIO during the third quarter valued at about $91,440,000. Voloridge Investment Management LLC bought a new stake in shares of NIO in the 3rd quarter valued at about $89,952,000. Finally, RWC Asset Advisors US LLC bought a new stake in shares of NIO in the 3rd quarter valued at about $79,761,000. 48.55% of the stock is currently owned by hedge funds and other 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.