NIO Inc. (NYSE:NIO – Get Free Report) traded down 1.3% during trading on Monday . The company traded as low as $4.76 and last traded at $4.8150. 23,624,332 shares changed hands during trading, a decline of 38% from the average daily volume of 38,289,422 shares. The stock had previously closed at $4.88.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on NIO. Bank of America reaffirmed a “neutral” rating and issued a $6.80 price target on shares of NIO in a research report on Thursday, May 21st. Zacks Research raised shares of NIO from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Sanford C. Bernstein restated a “market perform” rating and set a $6.00 target price on shares of NIO in a report on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research report on Wednesday. Finally, The Goldman Sachs Group upgraded NIO from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.70.
Read Our Latest Research Report on NIO
NIO Stock Performance
Institutional Investors Weigh In On NIO
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Atlantic Union Bankshares Corp grew its stake in shares of NIO by 98.3% during the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after acquiring an additional 2,950 shares during the last quarter. Arax Advisory Partners raised its position in shares of NIO by 81.6% in 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 position in shares of NIO in the 4th quarter valued at approximately $41,000. Merkkuri Wealth Advisors LLC acquired a new stake in NIO in the 1st quarter worth approximately $41,000. Finally, MV Capital Management Inc. purchased a new stake in NIO during the 4th quarter worth approximately $42,000. 48.55% of the stock is currently 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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