Nio Inc - (NYSE:NIO) Given Average Recommendation of "Hold" by Brokerages

Nio Inc - (NYSE:NIO - Get Free Report) has been assigned a consensus rating of "Hold" from the twelve research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $5.71.

Several analysts have recently commented on NIO shares. Daiwa America upgraded shares of NIO to a "strong-buy" rating in a research note on Monday, September 30th. The Goldman Sachs Group downgraded shares of NIO from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Bank of America boosted their target price on NIO from $5.00 to $5.30 and gave the stock a "neutral" rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised NIO from a "neutral" rating to an "overweight" rating and raised their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Wolfe Research assumed coverage on NIO in a research report on Thursday, September 5th. They issued a "peer perform" rating for the company.

NIO Stock Performance

Shares of NYSE NIO traded down $0.02 during mid-day trading on Tuesday, hitting $4.36. 39,648,980 shares of the company were exchanged, compared to its average volume of 56,068,160. The stock has a 50 day simple moving average of $4.75 and a 200-day simple moving average of $4.80. NIO has a 1-year low of $3.61 and a 1-year high of $8.94. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of -2.89 and a beta of 1.77.

Hedge Funds Weigh In On NIO

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of NIO in the third quarter valued at approximately $32,000. First Trust Direct Indexing L.P. purchased a new stake in NIO in the 3rd quarter valued at approximately $76,000. Apollon Wealth Management LLC purchased a new position in NIO during the third quarter worth $78,000. Sivia Capital Partners LLC acquired a new position in shares of NIO in the third quarter worth $92,000. Finally, Avior Wealth Management LLC lifted its position in shares of NIO by 106.1% in the third quarter. Avior Wealth Management LLC now owns 14,588 shares of the company's stock valued at $97,000 after acquiring an additional 7,510 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.