Analysts Set NIO Inc. (NYSE:NIO) PT at $6.73

NIO Inc. (NYSE:NIO) has been assigned an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $6.7250.

NIO has been the subject of several recent analyst reports. UBS Group downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Barclays upped their price objective on NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Friday, November 28th. Mizuho boosted their price objective on shares of NIO from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Citigroup lowered their target price on shares of NIO from $8.60 to $6.90 and set a “buy” rating for the company in a report on Wednesday, November 26th. Finally, Bank of America upped their price target on shares of NIO from $5.00 to $7.10 and gave the company a “neutral” rating in a report on Wednesday, September 3rd.

NIO Trading Up 1.3%

Shares of NIO stock opened at $4.93 on Tuesday. The company has a market capitalization of $10.28 billion, a P/E ratio of -3.40 and a beta of 1.04. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.94. The company has a fifty day moving average of $6.12 and a 200 day moving average of $5.48. NIO has a fifty-two week low of $3.02 and a fifty-two week high of $8.02.

Institutional Investors Weigh In On NIO

A number of institutional investors and hedge funds have recently modified their holdings of NIO. Kingstone Capital Partners Texas LLC purchased a new position in NIO during the 2nd quarter worth $12,315,000. Hsbc Holdings PLC lifted its holdings in shares of NIO by 96.6% in the 1st quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company’s stock worth $3,964,000 after buying an additional 510,610 shares during the period. American Century Companies Inc. grew its position in shares of NIO by 18.0% during the 1st quarter. American Century Companies Inc. now owns 702,772 shares of the company’s stock worth $2,678,000 after buying an additional 107,239 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of NIO by 125.2% during the 2nd quarter. Vontobel Holding Ltd. now owns 1,094,398 shares of the company’s stock worth $3,754,000 after buying an additional 608,377 shares in the last quarter. Finally, WMG Financial Advisors LLC increased its stake in shares of NIO by 17.9% during the second quarter. WMG Financial Advisors LLC now owns 474,966 shares of the company’s stock valued at $1,629,000 after buying an additional 72,170 shares during the period. 48.55% of the stock is owned by 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.