NIO (NYSE:NIO) Stock Rating Lowered by Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell
NIO (NYSE:NIO) was downgraded by equities research analysts at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, AR Network reports. They currently have a $68.30 target price on the stock, up from their prior target price of $46.40. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell’s price target would suggest a potential upside of 9.90% from the company’s previous close.
A number of other analysts have also recently commented on the stock. Smith Barney Citigroup upped their price target on shares of NIO from $33.20 to $46.40 in a research note on Wednesday, November 4th. JPMorgan Chase & Co. upped their price target on shares of NIO from $50.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday. The Goldman Sachs Group upgraded shares of NIO from a “sell” rating to a “neutral” rating and increased their target price for the stock from $7.70 to $59.00 in a research note on Tuesday, December 1st. HSBC began coverage on shares of NIO in a research note on Friday, October 30th. They issued a “hold” rating and a $30.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of NIO from $34.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. NIO has an average rating of “Hold” and a consensus price target of $35.01.
Shares of NIO stock opened at $62.15 on Tuesday. The stock has a market capitalization of $63.77 billion, a P/E ratio of -66.83 and a beta of 2.88. The company has a current ratio of 2.42, a quick ratio of 2.33 and a debt-to-equity ratio of 0.84. The firm’s 50 day moving average is $48.91 and its 200 day moving average is $28.51. NIO has a 12 month low of $2.11 and a 12 month high of $66.99.
Large investors have recently modified their holdings of the company. Front Row Advisors LLC bought a new position in shares of NIO in the 3rd quarter worth $68,000. Advisory Alpha LLC bought a new position in shares of NIO in the 3rd quarter worth $28,000. Eudaimonia Partners LLC bought a new position in shares of NIO in the 3rd quarter worth $30,000. O Shaughnessy Asset Management LLC bought a new position in shares of NIO in the 3rd quarter worth $31,000. Finally, CNB Bank grew its holdings in shares of NIO by 200.0% during the 3rd quarter. CNB Bank now owns 1,500 shares of the company’s stock valued at $32,000 after purchasing an additional 1,000 shares during the last quarter.
NIO Company Profile
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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