Nio Inc (NIO:NYE) has received an overall rating of “Moderate Buy” from 14 brokerages, according to Stock Target Advisor ratings. Among these ratings, six have assigned a buy recommendation and five suggest holding the NIO stock. The average 12-month price target for NIO stock is $18.62, according to analysts who have covered the company in the last year.
NIO Stock-Analyst Ratings:
Several analysts recently commented on Nio’s stock. JPMorgan Chase & Co. downgraded the stock from “overweight” to “neutral” and lowered the price target from $14.00 to $10.00 in a report on March 2nd.
China Renaissance also reduced its target price on the stock from $12.30 to $10.40, while Barclays lowered the target price from $18.00 to $10.00 and downgraded the stock from “overweight” to “equal weight.”
Mizuho, on the other hand, lowered the target price from $28.00 to $25.00 but maintained a “buy” rating on the stock. Lastly, Morgan Stanley reduced the target price from $16.10 to $12.00 in a report published on Monday.
Hedge Funds & Institutional Holdings:
Institutional investors have also been active in buying or selling the NIO stock. Hedge funds and other institutional investors have recently increased or decreased their stakes in the company.
UBS Oconnor LLC purchased a new position in NIO in the third quarter worth $2,881,000, while Yousif Capital Management LLC grew its position in NIO by 15.0% in the same period.
EWG Elevate Inc. also purchased a new position in NIO in the fourth quarter worth $29,000. Nomura Asset Management Co. Ltd. grew its position in NIO by 12.0% in the third quarter, and Aubrey Capital Management Ltd increased its stake in the company by 24.7% in the second quarter.
Currently, hedge funds and other institutional investors own 30.06% of NIO’s stock.
NIO Stock Price Analysis:
On Wednesday, NIO opened at $9.27, and its stock has been trading up 5.9%. The company’s current ratio is 1.29, its quick ratio is 1.11, while its debt-to-equity ratio is 0.45.
With a market capitalization of $15.47 billion, NIO has a PE ratio of -7.13 and a beta of 1.93. The stock’s 50-day moving average is $10.32, and its 200-day moving average is $12.06. NIO’s 12-month low is $8.03, while its 12-month high is $24.43.
NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. It offers five, six, and seven-seater electric SUVs, as well as smart electric sedans.
The company was formerly known as NextEV Inc. and changed its name to NIO Inc. in July 2017. NIO Inc. was incorporated in 2014 and is headquartered in Shanghai, China.