
NIO (NYSE:NIO) Hits New 12-Month Low - What's Next?

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NIO Inc. (NYSE:NIO) reached a new 12-month low of $3.57, closing at $3.82 with significant trading volume. Analysts have downgraded the stock, with JPMorgan reducing its rating from "overweight" to "neutral" and lowering the price target from $7.00 to $4.70. The consensus rating is now "Hold" with an average price target of $5.00. NIO reported a quarterly EPS of ($0.47), missing estimates, and a revenue of $2.70 billion, up 15.2% year-over-year. Institutional investors have increased their holdings significantly, with 48.55% of the stock owned by hedge funds and other institutions.
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