Brokerages Set Nio Inc – (NYSE:NIO) Target Price at $5.71

Nio Inc – (NYSE:NIO) has been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Two investment 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 analysts that have updated their coverage on the stock in the last year is $5.71.

Several research analysts recently commented on NIO shares. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and lowered their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Citigroup reduced their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $5.30 to $8.00 in a research report on Friday, September 6th.

Hedge Funds Weigh In On NIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its holdings in shares of NIO by 12.4% during the 1st quarter. California State Teachers Retirement System now owns 424,836 shares of the company’s stock worth $1,912,000 after buying an additional 46,987 shares during the period. Cetera Advisors LLC grew its position in shares of NIO by 26.2% in the first quarter. Cetera Advisors LLC now owns 33,671 shares of the company’s stock valued at $152,000 after purchasing an additional 6,981 shares during the last quarter. CWM LLC increased its stake in shares of NIO by 16.0% during the second quarter. CWM LLC now owns 24,399 shares of the company’s stock worth $102,000 after purchasing an additional 3,371 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in NIO by 122.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 32,722 shares of the company’s stock worth $136,000 after purchasing an additional 18,039 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its stake in NIO by 11.2% in the 2nd quarter. 180 Wealth Advisors LLC now owns 103,306 shares of the company’s stock valued at $430,000 after purchasing an additional 10,413 shares during the period. 48.55% of the stock is owned by institutional investors.

NIO Trading Down 1.8 %

NYSE:NIO opened at $4.59 on Friday. The company has a market cap of $7.88 billion, a P/E ratio of -3.04 and a beta of 1.77. NIO has a twelve month low of $3.61 and a twelve month high of $9.57. The business has a 50 day moving average price of $5.11 and a two-hundred day moving average price of $4.84. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

NIO Company Profile

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.