NIO (NYSE:NIO) Shares Down 3.2% – Time to Sell?
by Scott Moore · The Cerbat GemShares of NIO Inc. (NYSE:NIO – Get Free Report) fell 3.2% during mid-day trading on Tuesday . The stock traded as low as $4.68 and last traded at $4.6950. 39,730,025 shares were traded during trading, a decline of 15% from the average session volume of 46,485,090 shares. The stock had previously closed at $4.85.
Wall Street Analyst Weigh In
NIO has been the subject of a number of research reports. Macquarie set a $5.30 target price on NIO in a report on Tuesday, November 25th. Citigroup decreased their price objective on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a report on Wednesday, November 26th. The Goldman Sachs Group restated a “neutral” rating and issued a $7.00 target price on shares of NIO in a research note on Thursday, October 30th. Mizuho raised their price target on shares of NIO from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Finally, Barclays lifted their price objective on shares of NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Friday, November 28th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, NIO currently has a consensus rating of “Hold” and a consensus target price of $6.73.
Check Out Our Latest Research Report on NIO
NIO Stock Down 3.2%
The firm has a market capitalization of $9.80 billion, a P/E ratio of -3.24 and a beta of 1.05. The firm’s 50 day moving average is $5.44 and its two-hundred day moving average is $5.67. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.94 and a quick ratio of 0.83.
Institutional Investors Weigh In On NIO
Hedge funds have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC bought a new stake in NIO in the second quarter valued at approximately $12,315,000. American Century Companies Inc. increased its holdings in shares of NIO by 37.4% during the 2nd quarter. American Century Companies Inc. now owns 965,409 shares of the company’s stock worth $3,311,000 after acquiring an additional 262,637 shares during the last quarter. Vontobel Holding Ltd. raised its stake in NIO by 125.2% in the 2nd quarter. Vontobel Holding Ltd. now owns 1,094,398 shares of the company’s stock valued at $3,754,000 after acquiring an additional 608,377 shares during the period. WMG Financial Advisors LLC raised its stake in NIO by 17.9% in the 2nd quarter. WMG Financial Advisors LLC now owns 474,966 shares of the company’s stock valued at $1,629,000 after acquiring an additional 72,170 shares during the period. Finally, RWC Asset Advisors US LLC acquired a new stake in NIO during the 3rd quarter valued at $79,761,000. 48.55% of the stock is currently 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.