NIO (NYSE:NIO) Rating Lowered to Neutral at JPMorgan Chase & Co.

NIO (NYSE:NIO) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Tuesday, MarketBeat.com reports. They currently have a $4.70 target price on the stock, down from their previous target price of $7.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 12.04% from the company’s previous close.

Other research analysts have also issued reports about the stock. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Finally, HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.38.

NIO Stock Performance

NIO stock opened at $4.20 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. NIO has a fifty-two week low of $3.61 and a fifty-two week high of $7.71. The stock has a fifty day moving average of $4.43 and a two-hundred day moving average of $4.76. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of -2.78 and a beta of 1.69.

Institutional Investors Weigh In On NIO

A number of institutional investors have recently modified their holdings of NIO. Sei Investments Co. increased its holdings in NIO by 4.0% in the second quarter. Sei Investments Co. now owns 195,894 shares of the company’s stock valued at $815,000 after buying an additional 7,600 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of NIO by 10.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,043 shares of the company’s stock worth $753,000 after acquiring an additional 17,467 shares in the last quarter. Creative Planning increased its holdings in shares of NIO by 34.7% in the 2nd quarter. Creative Planning now owns 268,318 shares of the company’s stock valued at $1,116,000 after acquiring an additional 69,143 shares during the last quarter. Truist Financial Corp raised its position in shares of NIO by 32.2% during the 2nd quarter. Truist Financial Corp now owns 25,253 shares of the company’s stock valued at $105,000 after acquiring an additional 6,150 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in NIO during the second quarter worth $228,000. 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.