Several other analysts have also recently weighed in on NIO. Citigroup dropped their price objective on NIO from $87.00 to $41.10 and set a buy rating for the company in a report on Tuesday, June 21st. Bank of America raised NIO from a neutral rating to a buy rating and set a $26.00 price objective for the company in a report on Monday, May 16th. Morgan Stanley dropped their price objective on NIO from $34.00 to $31.00 and set an overweight rating for the company in a report on Friday, June 10th. HSBC boosted their price objective on NIO from $26.00 to $28.00 and gave the stock a buy rating in a report on Thursday, June 30th. Finally, Nomura lowered their price target on NIO from $51.50 to $25.80 in a research note on Friday, July 1st. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, NIO currently has an average rating of Moderate Buy and a consensus target price of $37.59.
NIO Stock Up 1.1 %
Shares of NYSE NIO opened at $17.68 on Thursday. The firm’s 50-day simple moving average is $20.00 and its 200 day simple moving average is $19.27. The company has a market cap of $29.51 billion, a price-to-earnings ratio of -23.89 and a beta of 1.96. The company has a quick ratio of 1.93, a current ratio of 2.02 and a debt-to-equity ratio of 0.33. NIO has a 12-month low of $11.67 and a 12-month high of $44.27.
Hedge Funds Weigh In On NIO
Several institutional investors and hedge funds have recently modified their holdings of NIO. Envestnet Asset Management Inc. grew its position in shares of NIO by 78.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 50,856 shares of the company’s stock valued at $1,611,000 after purchasing an additional 22,418 shares during the period. First Republic Investment Management Inc. boosted its position in NIO by 22.6% during the 4th quarter. First Republic Investment Management Inc. now owns 28,043 shares of the company’s stock worth $888,000 after acquiring an additional 5,161 shares during the last quarter. UMB Bank N A MO acquired a new position in NIO during the 4th quarter worth approximately $81,000. Principal Financial Group Inc. boosted its position in NIO by 1,413.4% during the 4th quarter. Principal Financial Group Inc. now owns 329,645 shares of the company’s stock worth $10,443,000 after acquiring an additional 307,863 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in NIO by 5.5% during the 4th quarter. Teacher Retirement System of Texas now owns 207,902 shares of the company’s stock worth $6,586,000 after acquiring an additional 10,846 shares during the last quarter. 31.52% of the stock is currently owned by institutional investors and hedge funds.
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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