NIO Inc. (NYSE:NIO – Get Free Report) shares dropped 4.2% during trading on Thursday . The stock traded as low as $6.21 and last traded at $6.2650. Approximately 36,179,424 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 42,014,605 shares. The stock had previously closed at $6.54.
Wall Street Analysts Forecast Growth
NIO has been the subject of a number of recent analyst reports. HSBC raised NIO from a “hold” rating to a “buy” rating and raised their price target for the company from $4.80 to $6.80 in a report on Friday, March 13th. Nomura upgraded NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price on the stock in a report on Wednesday, March 11th. Macquarie Infrastructure upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.10 target price for the company in a research note on Thursday, January 15th. Bank of America reiterated a “neutral” rating on shares of NIO in a research report on Tuesday, March 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.80.
Read Our Latest Research Report on NIO
NIO Stock Performance
NIO (NYSE:NIO – Get Free Report) last released its earnings results on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. NIO had a negative net margin of 17.21% and a negative return on equity of 924.56%. The company had revenue of $4.95 billion for the quarter. On average, analysts expect that NIO Inc. will post -0.28 EPS for the current year.
Hedge Funds Weigh In On NIO
A number of hedge funds and other institutional investors have recently bought and sold shares of NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NIO by 3,966.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock valued at $20,255,000 after acquiring an additional 5,185,565 shares during the last quarter. Franklin Resources Inc. lifted its stake in NIO by 50.9% in the second quarter. Franklin Resources Inc. now owns 17,707 shares of the company’s stock valued at $61,000 after buying an additional 5,974 shares during the period. Invesco Ltd. boosted its holdings in NIO by 22.7% during the second quarter. Invesco Ltd. now owns 2,738,308 shares of the company’s stock worth $9,392,000 after buying an additional 506,618 shares during the last quarter. First Trust Advisors LP grew its position in shares of NIO by 67.4% during the 2nd quarter. First Trust Advisors LP now owns 73,280 shares of the company’s stock worth $251,000 after buying an additional 29,501 shares during the period. Finally, AXA S.A. bought a new stake in shares of NIO in the 2nd quarter valued at about $64,000. 48.55% of the stock is 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.
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