Nio Inc – (NYSE:NIO) Receives $5.71 Average Price Target from Brokerages

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

NIO has been the subject of a number of research reports. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and decreased their target price 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 research note on Monday, September 30th. Finally, Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th.

NIO Price Performance

NIO stock opened at $4.70 on Tuesday. The company has a market cap of $8.08 billion, a PE ratio of -3.11 and a beta of 1.70. 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 50-day moving average price of $4.69 and a two-hundred day moving average price of $4.81. NIO has a 12-month low of $3.61 and a 12-month high of $8.05.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of 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 acquiring an additional 343,910 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in NIO during the 2nd quarter worth approximately $130,000. Signaturefd LLC raised 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 purchasing an additional 9,860 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of NIO by 1.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 208,152 shares of the company’s stock valued at $866,000 after buying an additional 3,539 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of NIO by 8.7% during the second quarter. Van ECK Associates Corp now owns 463,144 shares of the company’s stock worth $1,927,000 after buying an additional 37,160 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.