NIO (NYSE:NIO) Shares Gap Down – Here’s Why

NIO Inc. (NYSE:NIO)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $4.97, but opened at $4.84. NIO shares last traded at $4.9650, with a volume of 6,483,820 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Dbs Bank raised NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Nomura raised NIO from a “neutral” rating to a “buy” rating and set a $6.60 price objective on the stock in a research note on Wednesday, March 11th. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a report on Friday, May 1st. HSBC raised NIO from a “hold” rating to a “buy” rating and raised their target price for the company from $4.80 to $6.80 in a research note on Friday, March 13th. Finally, Bank of America reaffirmed a “neutral” rating and set a $6.80 target price on shares of NIO in a report on Thursday, May 21st. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.70.

NIO Trading Up 0.1%

The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of -8.71 and a beta of 0.90. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94. The firm’s 50 day moving average is $5.55 and its 200 day moving average is $5.38.

NIO (NYSE:NIO) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $4.95 billion for the quarter. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. Equities analysts forecast that NIO Inc. will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On NIO

A number of hedge funds have recently modified their holdings of the stock. Aspex Management HK Ltd purchased a new stake in shares of NIO during the third quarter valued at $266,700,000. Ghisallo Capital Management LLC acquired a new position in NIO during the third quarter valued at $91,440,000. Voloridge Investment Management LLC purchased a new stake in NIO in the 3rd quarter worth about $89,952,000. Quadrature Capital Ltd purchased a new stake in NIO in the 3rd quarter worth about $58,308,000. Finally, Bank of America Corp DE boosted its position in NIO by 99.0% during the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after acquiring an additional 7,079,903 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.