Nio Inc – (NYSE:NIO) Receives Average Recommendation of “Hold” from Analysts

Shares of Nio Inc – (NYSE:NIO) have been given a consensus recommendation of “Hold” by the twelve brokerages that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $5.71.

A number of research analysts have recently commented on NIO shares. Citigroup lowered their price objective on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Bank of America lifted their price target on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and upped their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th.

Hedge Funds Weigh In On NIO

Several large investors have recently added to or reduced their stakes in NIO. Point72 Asset Management L.P. increased its position in shares of NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after purchasing an additional 4,018,659 shares during the period. FMR LLC boosted its stake in NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd increased its holdings in NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after buying an additional 538,907 shares during the period. Krane Funds Advisors LLC raised its stake in shares of NIO by 31.7% in the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after buying an additional 370,556 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of NIO by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after acquiring an additional 343,910 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Trading Down 7.8 %

Shares of NYSE:NIO opened at $4.78 on Friday. NIO has a 1 year low of $3.61 and a 1 year high of $9.57. The firm has a fifty day moving average price of $5.20 and a 200 day moving average price of $4.84. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $8.21 billion, a PE ratio of -3.16 and a beta of 1.77.

About NIO

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.