NIO Inc. (NYSE:NIO – Get Free Report) dropped 1.2% during trading on Thursday . The company traded as low as $4.55 and last traded at $4.5950. 23,676,303 shares were traded during trading, a decline of 38% from the average daily volume of 37,994,543 shares. The stock had previously closed at $4.65.
Wall Street Analysts Forecast Growth
NIO has been the subject of several research analyst reports. Bank of America reiterated a “neutral” rating and issued a $6.80 price objective on shares of NIO in a research report on Thursday, May 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a report on Wednesday, July 29th. The Goldman Sachs Group raised shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Monday, July 13th. Zacks Research raised shares of NIO from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $6.00 price objective on shares of NIO in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.70.
Check Out Our Latest Analysis on NIO
NIO Trading Down 1.2%
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in NIO. Atlantic Union Bankshares Corp increased its holdings in 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 buying an additional 2,950 shares during the last quarter. Merkkuri Wealth Advisors LLC acquired a new stake in NIO during the first quarter worth approximately $41,000. Arax Advisory Partners boosted its holdings in shares of NIO by 81.6% during the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock worth $40,000 after acquiring an additional 3,487 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of NIO by 120.7% during the first quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock worth $48,000 after acquiring an additional 4,383 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of NIO in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 48.55% of the company’s stock.
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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