NIO (NYSE:NIO – Get Rating) had its price objective lowered by Citigroup from $87.00 to $41.10 in a research report released on Tuesday morning, The Fly reports. The firm currently has a buy rating on the stock.
NIO has been the subject of a number of other reports. UBS Group raised NIO from a neutral rating to a buy rating and decreased their price objective for the stock from $42.00 to $32.00 in a research report on Monday, April 4th. Nomura decreased their price objective on NIO from $67.10 to $51.50 and set a buy rating for the company in a research report on Monday, March 28th. initiated coverage on NIO in a research report on Thursday, March 24th. They set a buy rating and a $32.40 price objective for the company. Morgan Stanley decreased their price objective on NIO from $34.00 to $31.00 and set an overweight rating for the company in a research report on Friday, June 10th. Finally, Bank of America raised NIO from a neutral rating to a buy rating and set a $26.00 price target for the company in a report on Monday, May 16th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $42.91.
Shares of NYSE NIO opened at $23.05 on Tuesday. The stock has a market cap of $38.47 billion, a PE ratio of -31.15 and a beta of 2.46. The company has a quick ratio of 1.93, a current ratio of 2.02 and a debt-to-equity ratio of 0.33. NIO has a 52-week low of $11.67 and a 52-week high of $55.13. The business has a 50-day moving average price of $17.44 and a 200 day moving average price of $22.30.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Norges Bank purchased a new position in NIO during the fourth quarter worth $435,592,000. Schroder Investment Management Group increased its position in NIO by 6,141.7% during the fourth quarter. Schroder Investment Management Group now owns 12,979,146 shares of the company’s stock worth $411,180,000 after buying an additional 12,771,205 shares in the last quarter. Renaissance Technologies LLC increased its position in NIO by 2,377.8% during the first quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock worth $113,704,000 after buying an additional 5,183,600 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in NIO by 35.2% during the third quarter. UBS Asset Management Americas Inc. now owns 9,446,164 shares of the company’s stock worth $336,567,000 after buying an additional 2,458,313 shares in the last quarter. Finally, WT Asset Management Ltd purchased a new position in NIO during the fourth quarter worth $77,414,000. 42.98% of the stock is owned by hedge funds and other institutional investors.
About NIO (Get Rating)
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.
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