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

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

A number of brokerages recently weighed in on NIO. Bank of America raised their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Wolfe Research began coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and cut their price objective for the company from $4.80 to $3.90 in a research report on Monday, November 25th.

NIO Stock Up 4.4 %

NIO opened at $4.55 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The business’s fifty day simple moving average is $4.73 and its 200 day simple moving average is $4.80. NIO has a 52 week low of $3.61 and a 52 week high of $8.56. The stock has a market cap of $7.82 billion, a PE ratio of -3.01 and a beta of 1.77.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in NIO by 140.2% in the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock valued at $502,000 after buying an additional 43,839 shares in the last quarter. Garden State Investment Advisory Services LLC acquired a new position in NIO in the 3rd quarter valued at about $374,000. Tidal Investments LLC boosted its stake in shares of NIO by 2.4% in the 3rd quarter. Tidal Investments LLC now owns 280,140 shares of the company’s stock valued at $1,871,000 after buying an additional 6,545 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of NIO by 63.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company’s stock valued at $553,000 after buying an additional 32,069 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of NIO by 1,652,962.5% in the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after buying an additional 132,237 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

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.