Nio Inc – (NYSE:NIO) Given Consensus Recommendation of “Hold” by Brokerages

Nio Inc – (NYSE:NIO) has been given a consensus rating of “Hold” by the twelve brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $5.71.

NIO has been the subject of a number of analyst reports. Bank of America raised their price objective on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and increased their target price for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Citigroup reduced their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $6.60 to $4.80 in a report on Wednesday, November 20th.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in NIO by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after purchasing an additional 343,910 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of NIO in the 2nd quarter valued at $130,000. Signaturefd LLC grew its position in shares of NIO by 31.1% in the 2nd quarter. Signaturefd LLC now owns 41,590 shares of the company’s stock valued at $173,000 after buying an additional 9,860 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in NIO by 1.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 208,152 shares of the company’s stock worth $866,000 after acquiring an additional 3,539 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in NIO by 8.7% in the second quarter. Van ECK Associates Corp now owns 463,144 shares of the company’s stock valued at $1,927,000 after acquiring an additional 37,160 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Stock Down 2.2 %

Shares of NYSE:NIO opened at $4.38 on Tuesday. NIO has a 12-month low of $3.61 and a 12-month high of $8.94. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of -2.90 and a beta of 1.77. The stock has a fifty day simple moving average of $4.77 and a two-hundred day simple moving average of $4.80. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

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.