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

Shares of Nio Inc – (NYSE:NIO) have earned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat reports. Two 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 1-year price objective among analysts that have updated their coverage on the stock in the last year is $5.71.

NIO has been the topic of several recent research reports. Daiwa America upgraded NIO to a “strong-buy” rating in a report on Monday, September 30th. Macquarie lowered 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. Finally, The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and lowered their price target for the company from $4.80 to $3.90 in a report on Monday, November 25th.

NIO Stock Performance

Shares of NIO opened at $4.63 on Tuesday. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of -3.07 and a beta of 1.77. The company’s fifty day moving average is $4.71 and its 200-day moving average is $4.80. 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 has a 12 month low of $3.61 and a 12 month high of $8.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in NIO by 140.2% during the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock worth $502,000 after buying an additional 43,839 shares in the last quarter. Garden State Investment Advisory Services LLC acquired a new stake in shares of NIO during the 3rd quarter worth approximately $374,000. Tidal Investments LLC increased its position in shares of NIO by 2.4% during the third quarter. Tidal Investments LLC now owns 280,140 shares of the company’s stock valued at $1,871,000 after purchasing an additional 6,545 shares during the period. Sanctuary Advisors LLC lifted its position in NIO by 63.1% in the third quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company’s stock worth $553,000 after purchasing an additional 32,069 shares during the period. Finally, Toronto Dominion Bank boosted its stake in NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after buying an additional 132,237 shares in the last quarter. Institutional investors 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.