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 brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $5.71.

A number of research analysts have recently issued reports on NIO shares. Bank of America boosted their target price on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Wolfe Research started coverage on NIO in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and dropped their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. Finally, Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th.

Institutional Trading of NIO

A number of institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of NIO by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after acquiring an additional 343,910 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of NIO in the second quarter valued at $130,000. Signaturefd LLC lifted its position in shares of NIO by 31.1% in the second quarter. Signaturefd LLC now owns 41,590 shares of the company’s stock valued at $173,000 after acquiring an additional 9,860 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of NIO by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 208,152 shares of the company’s stock valued at $866,000 after acquiring an additional 3,539 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of NIO by 8.7% in the second quarter. Van ECK Associates Corp now owns 463,144 shares of the company’s stock valued at $1,927,000 after acquiring an additional 37,160 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Price Performance

Shares of NYSE NIO opened at $4.55 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. NIO has a twelve month low of $3.61 and a twelve month high of $8.56. The stock has a 50 day moving average of $4.73 and a two-hundred day moving average of $4.80. The stock has a market cap of $7.82 billion, a P/E ratio of -3.01 and a beta of 1.77.

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.