NIO (NYSE:NIO) Stock Price Down 1.2% – Should You Sell?
by Michael Walen · The Markets DailyNIO Inc. (NYSE:NIO – Get Free Report) shares traded down 1.2% during trading on Thursday . The company traded as low as $4.55 and last traded at $4.5950. 23,676,303 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 37,994,543 shares. The stock had previously closed at $4.65.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Sanford C. Bernstein restated a “market perform” rating and set a $6.00 price objective on shares of NIO in a research report on Friday, May 22nd. Zacks Research raised NIO from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research note on Wednesday, July 29th. Bank of America reissued a “neutral” rating and set a $6.80 price target on shares of NIO in a report on Thursday, May 21st. Finally, The Goldman Sachs Group upgraded NIO from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, NIO presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.70.
View Our Latest Research Report on NIO
NIO Trading Up 2.8%
The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90. The company has a market capitalization of $11.74 billion, a price-to-earnings ratio of -8.59 and a beta of 0.91. The business’s 50-day moving average price is $5.00 and its two-hundred day moving average price is $5.36.
Hedge Funds Weigh In On NIO
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of NIO by 25.7% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 451,100 shares of the company’s stock worth $2,283,000 after purchasing an additional 92,114 shares in the last quarter. Persistent Asset Partners Ltd acquired a new position in NIO in the second quarter valued at about $34,000. Global Retirement Partners LLC bought a new stake in NIO during the second quarter worth about $34,000. Focus Partners Advisor Solutions LLC grew its stake in NIO by 17.5% during the second quarter. Focus Partners Advisor Solutions LLC now owns 29,605 shares of the company’s stock worth $150,000 after buying an additional 4,406 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in NIO by 15.7% in the 2nd quarter. HighTower Advisors LLC now owns 68,866 shares of the company’s stock valued at $348,000 after buying an additional 9,357 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.
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.