Nio Inc - (NYSE:NIO - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $5.03, but opened at $5.28. NIO shares last traded at $5.14, with a volume of 22,699,635 shares.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. The Goldman Sachs Group downgraded NIO from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Finally, HSBC downgraded NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, NIO currently has a consensus rating of "Hold" and a consensus target price of $5.03.
Read Our Latest Stock Report on NIO
NIO Stock Performance
The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of -2.98 and a beta of 1.81. The firm has a fifty day simple moving average of $4.42 and a 200 day simple moving average of $4.86.
Institutional Investors Weigh In On NIO
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in shares of NIO by 140.2% during the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company's stock worth $502,000 after purchasing an additional 43,839 shares in the last quarter. West Family Investments Inc. acquired a new stake in NIO in the 3rd quarter worth about $138,000. Avior Wealth Management LLC increased its stake in NIO by 106.1% during the 3rd quarter. Avior Wealth Management LLC now owns 14,588 shares of the company's stock worth $97,000 after buying an additional 7,510 shares in the last quarter. Advisors Asset Management Inc. increased its stake in NIO by 71.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 82,179 shares of the company's stock worth $549,000 after buying an additional 34,299 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in shares of NIO during the third quarter valued at approximately $140,000. Hedge funds and other institutional investors own 48.55% of the company's stock.
About NIO
(
Get Free Report)
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.
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