Brokerages Set Nio Inc – (NYSE:NIO) Target Price at $5.03

Nio Inc – (NYSE:NIO) has been given an average recommendation of “Hold” by the eleven brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $5.03.

NIO has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and reduced their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. HSBC cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th.

NIO Price Performance

NIO stock opened at $4.72 on Friday. 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 stock has a market cap of $9.84 billion, a P/E ratio of -3.12 and a beta of 1.81. The company has a 50-day moving average price of $4.42 and a 200 day moving average price of $4.86. NIO has a 12-month low of $3.61 and a 12-month high of $7.71.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NIO. Toronto Dominion Bank boosted its holdings in NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after purchasing an additional 132,237 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of NIO in the 4th quarter valued at about $1,360,000. AlphaStar Capital Management LLC acquired a new position in shares of NIO during the fourth quarter worth about $537,000. 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. Finally, Main Management ETF Advisors LLC purchased a new stake in shares of NIO during the third quarter worth approximately $1,327,000. 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.