NIO Inc. (NYSE:NIO – Get Free Report)’s stock price traded down 2.4% on Wednesday . The company traded as low as $4.66 and last traded at $4.6750. Approximately 30,886,448 shares traded hands during trading, a decline of 21% from the average daily volume of 39,152,121 shares. The stock had previously closed at $4.79.
Analyst Ratings Changes
A number of research firms have recently weighed in on NIO. Bank of America restated a “neutral” rating and issued a $6.80 target price on shares of NIO in a report on Thursday, May 21st. Sanford C. Bernstein reiterated a “market perform” rating and set a $6.00 target price on shares of NIO in a research report on Friday, May 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a report on Friday, May 1st. Finally, The Goldman Sachs Group upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a report on Monday, July 13th. Seven equities research analysts have rated the stock with a Buy rating, four 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 a consensus rating of “Hold” and a consensus target price of $6.70.
View Our Latest Stock Analysis on NIO
NIO Trading Down 2.9%
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its stake in shares of NIO by 89.9% in the fourth quarter. SG Americas Securities LLC now owns 3,006,407 shares of the company’s stock valued at $15,333,000 after buying an additional 1,423,350 shares in the last quarter. ABC Arbitrage SA purchased a new stake in shares of NIO during the first quarter worth $4,043,000. Hsbc Holdings PLC increased its position in shares of NIO by 48.8% during the fourth quarter. Hsbc Holdings PLC now owns 680,382 shares of the company’s stock worth $3,445,000 after acquiring an additional 223,178 shares during the period. Havemeyer Place LP acquired a new stake in NIO in the fourth quarter valued at approximately $1,985,000. Finally, Swedbank AB lifted its position in shares of NIO by 25.3% during the 4th quarter. Swedbank AB now owns 424,491 shares of the company’s stock worth $2,165,000 after purchasing an additional 85,602 shares during the last quarter. 48.55% of the stock is 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.
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