Nio Inc – (NYSE:NIO) Given Average Recommendation of “Hold” by Brokerages

Shares of Nio Inc – (NYSE:NIO) have earned a consensus rating of “Hold” from the twelve analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $5.71.

NIO has been the topic of several analyst reports. Wolfe Research began coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Bank of America upped their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Citigroup cut their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and lowered their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th.

Hedge Funds Weigh In On NIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Renaissance Technologies LLC bought a new stake in shares of NIO in the 2nd quarter valued at about $1,076,000. International Assets Investment Management LLC increased its stake in NIO by 580.9% in the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock valued at $2,621,000 after purchasing an additional 334,723 shares in the last quarter. FMR LLC raised its holdings in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the period. Main Management ETF Advisors LLC bought a new position in shares of NIO during the third quarter worth $1,327,000. Finally, Signaturefd LLC grew its holdings in shares of NIO by 16.9% in the 3rd quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock valued at $325,000 after buying an additional 7,014 shares during the period. Institutional investors own 48.55% of the company’s stock.

NIO Price Performance

Shares of NYSE:NIO opened at $4.59 on Friday. The firm has a market capitalization of $7.88 billion, a PE ratio of -3.04 and a beta of 1.77. 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 1-year low of $3.61 and a 1-year high of $9.57. The business’s 50 day moving average is $5.11 and its 200-day moving average is $4.84.

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.