NIO Inc. (NYSE:NIO – Get Free Report)’s share price dropped 3.6% during mid-day trading on Tuesday . The company traded as low as $4.95 and last traded at $5.0150. Approximately 43,422,444 shares were traded during trading, an increase of 3% from the average daily volume of 42,011,980 shares. The stock had previously closed at $5.20.
Wall Street Analyst Weigh In
NIO has been the topic of a number of research analyst reports. Sanford C. Bernstein reissued a “market perform” rating and set a $6.00 price objective on shares of NIO in a research report on Friday, May 22nd. Nomura raised shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price objective on the stock in a research report on Wednesday, March 11th. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. Bank of America reissued a “neutral” rating and set a $6.80 price objective on shares of NIO in a research report on Thursday, May 21st. Finally, HSBC raised shares of NIO from a “hold” rating to a “buy” rating and boosted their price objective for the company from $4.80 to $6.80 in a research report on Friday, March 13th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.70.
Read Our Latest Research Report on NIO
NIO Stock Down 3.6%
NIO (NYSE:NIO – Get Free Report) last released its earnings results on Saturday, February 14th. The company reported $0.04 earnings per share for the quarter. The firm had revenue of $4.95 billion for the quarter. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. As a group, analysts expect that NIO Inc. will post -0.13 EPS for the current fiscal year.
Institutional Trading of NIO
Institutional investors have recently bought and sold shares of the company. Atlantic Union Bankshares Corp grew its position in NIO by 98.3% during the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after purchasing an additional 2,950 shares during the last quarter. Arax Advisory Partners grew its position in NIO by 81.6% during the 4th quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after purchasing an additional 3,487 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in NIO during the 4th quarter valued at about $41,000. Merkkuri Wealth Advisors LLC purchased a new stake in NIO during the 1st quarter valued at about $41,000. Finally, MV Capital Management Inc. purchased a new stake in NIO during the 4th quarter valued at about $42,000. 48.55% of the stock is owned by hedge funds and other institutional investors.
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.
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