NIO (NYSE:NIO) Stock Price Down 2.9% – Here’s Why
by Teresa Graham · The Cerbat GemNIO Inc. (NYSE:NIO – Get Free Report) traded down 2.9% on Tuesday . The company traded as low as $4.47 and last traded at $4.5750. 45,668,197 shares changed hands during trading, an increase of 7% from the average session volume of 42,755,172 shares. The stock had previously closed at $4.71.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on NIO shares. Barclays lifted their price objective on NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 28th. The Goldman Sachs Group restated a “neutral” rating and issued a $7.00 target price on shares of NIO in a report on Thursday, October 30th. Macquarie upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price objective for the company in a research note on Thursday, January 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a research report on Monday, December 29th. Finally, Citigroup dropped their price target on shares of NIO from $8.60 to $6.90 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, NIO presently has a consensus rating of “Hold” and a consensus price target of $6.83.
Check Out Our Latest Stock Report on NIO
NIO Stock Down 2.9%
The stock’s fifty day moving average price is $5.16 and its 200 day moving average price is $5.72. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 2.36. The stock has a market cap of $9.55 billion, a P/E ratio of -3.16 and a beta of 1.05.
Hedge Funds Weigh In On NIO
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Gladstone Institutional Advisory LLC raised its holdings in shares of NIO by 12.8% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 13,231 shares of the company’s stock valued at $101,000 after buying an additional 1,500 shares in the last quarter. MGO One Seven LLC grew its holdings in shares of NIO by 10.6% during the 3rd quarter. MGO One Seven LLC now owns 16,208 shares of the company’s stock valued at $124,000 after purchasing an additional 1,560 shares during the last quarter. Insigneo Advisory Services LLC grew its holdings in shares of NIO by 4.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 43,067 shares of the company’s stock valued at $328,000 after purchasing an additional 1,806 shares during the last quarter. Tidal Investments LLC lifted its stake in NIO by 0.9% in the second quarter. Tidal Investments LLC now owns 287,140 shares of the company’s stock worth $985,000 after purchasing an additional 2,433 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in NIO by 148.3% during the third quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock valued at $37,000 after buying an additional 2,877 shares during the period. 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.