JPMorgan Chase & Co. Downgrades NIO (NYSE:NIO) to Neutral

NIO (NYSE:NIO) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. They currently have a $4.70 target price on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 9.68% from the company’s current price.

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

NIO Stock Down 0.8 %

Shares of NYSE:NIO opened at $4.29 on Tuesday. NIO has a 12-month low of $3.61 and a 12-month high of $7.71. The stock’s 50-day moving average price is $4.43 and its two-hundred day moving average price is $4.76. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of -2.84 and a beta of 1.69.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NIO. FMR LLC grew its position in shares of NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd grew its holdings in NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after acquiring an additional 538,907 shares in the last quarter. SG Americas Securities LLC increased its position in shares of NIO by 104.8% in the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after purchasing an additional 589,082 shares during the last quarter. Swedbank AB raised its stake in shares of NIO by 0.8% in the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock valued at $4,657,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of NIO during the third quarter worth about $4,879,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.