abrdn plc, a prominent investment firm, has raised its stock holdings in Nio Inc (NIO) by 33.9% during the fourth quarter, according to the company’s recent filing with the Securities and Exchange Commission. The total value of abrdn plc’s NIO holdings is estimated at $6,358,000, as per the latest filing.
Analyst ratings for NIO have shown mixed opinions in recent reports. Barclays downgraded NIO from an “overweight” rating to an “equal weight” rating and reduced the price target from $18.00 to $10.00. Morgan Stanley also decreased their price target on NIO from $16.10 to $12.00. Similarly, Mizuho lowered the price target to $25.00 from $28.00 but maintained a “buy” rating. JPMorgan Chase & Co. downgraded NIO from “overweight” to “neutral” and lowered the price target from $14.00 to $10.00. Overall, five research analysts have rated the stock as a hold, while six have given it a buy rating. The consensus price target for NIO, according to STA Research, stands at $16.15.
NIO Stock Performance
NIO stock opened at $8.07. It has a fifty-day simple moving average of $8.66 and a 200-day simple moving average of $10.09. Over the past year, the stock has seen a low of $7.33 and a high of $24.43. NIO maintains a debt-to-equity ratio of 0.45, a quick ratio of 1.11, and a current ratio of 1.29.
NIO reported earnings results on March 1st, revealing an earnings per share of ($0.51) for the quarter. The company experienced a negative return on equity of 47.74% and a negative net margin of 29.32%. With total revenue of $2.33 billion during the quarter, research analysts predict Nio Inc. will post an EPS of -1.39 for the current year.
While abrdn plc has increased its stake in Nio Inc, recent analyst reports have presented a range of opinions, leading to uncertainty regarding the stock’s future performance. With NIO’s financial results and market conditions playing a crucial role, investors will closely monitor the company’s progress in the coming months.
NIO Stock Analysis & Forecast
According to forecasts from eight analysts, the average target price for Nio Inc Class A ADR stock over the next 12 months is USD 16.15. The average analyst rating for Nio Inc Class A ADR is “Buy.” Stock Target Advisor’s own analysis of Nio Inc Class A ADR stock indicates a bearish outlook, based on one positive signal and six negative signals. At the latest closing, Nio Inc Class A ADR’s stock price stood at USD 8.79. The stock price has shown a positive change of +6.55% in the past week, +5.52% in the past month, and a negative change of -46.53% over the last year.