NIO (NYSE:NIO) Trading Down 2% – Here’s Why

Shares of NIO Inc. (NYSE:NIO) traded down 2% on Wednesday . The company traded as low as $5.15 and last traded at $5.1950. 27,008,996 shares changed hands during trading, a decline of 39% from the average session volume of 43,979,766 shares. The stock had previously closed at $5.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NIO shares. Weiss Ratings reissued a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. The Goldman Sachs Group reiterated a “neutral” rating and set a $7.00 price target on shares of NIO in a research report on Thursday, October 30th. UBS Group cut shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Barclays upped their target price on shares of NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 28th. Finally, Citigroup lowered their price target on shares of NIO from $8.60 to $6.90 and set a “buy” rating for the company in a report on Wednesday, November 26th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.83.

NIO Trading Down 2.0%

The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of -3.58 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.94. The business’s 50-day simple moving average is $4.86 and its 200-day simple moving average is $5.79.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently made changes to their positions in NIO. MV Capital Management Inc. bought a new position in shares of NIO in the 4th quarter worth $42,000. Compound Planning Inc. lifted its stake in NIO by 12.9% in the fourth quarter. Compound Planning Inc. now owns 41,449 shares of the company’s stock valued at $211,000 after buying an additional 4,721 shares during the period. Invesco Ltd. boosted its holdings in NIO by 47.8% during the fourth quarter. Invesco Ltd. now owns 3,997,775 shares of the company’s stock worth $20,389,000 after buying an additional 1,292,715 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of NIO by 100.7% during the 4th quarter. Corient Private Wealth LLC now owns 109,070 shares of the company’s stock worth $556,000 after buying an additional 54,713 shares during the period. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of NIO in the 4th quarter valued at about $80,000. Institutional investors own 48.55% of the company’s stock.

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.