NIO Inc. (NYSE:NIO) Stock Has Average Price Target of $5.78

Key Points

• Analyst sentiment is mixed but averages to “Hold”: Among 15 analysts, six rate NIO a buy, seven a hold, and two a sell; the average 12-month price target is $5.78.
• Several analysts recently lowered their ratings or price targets, including JPMorgan, which cut its target from $4.50 to $3.70, and Bernstein, which reduced its target from $6.00 to $5.00.
• NIO shares opened at $3.19, near their 12-month low of $3.10 and well below their $7.54 high. Institutional investors own 48.55% of the company’s stock.

Shares of NIO Inc. (NYSE:NIO - Get Free Report) have been given an average rating of "Hold" by the fifteen analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $5.78.

Several research analysts have recently weighed in on NIO shares. Royal Bank Of Canada cut shares of NIO to a "sector perform" rating in a research note on Thursday, September 3rd. Freedom Broker lowered NIO from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 2nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NIO in a report on Tuesday, October 27th. Sanford C. Bernstein decreased their target price on NIO from $6.00 to $5.00 and set a "market perform" rating on the stock in a report on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. lowered their target price on NIO from $4.50 to $3.70 and set a "neutral" rating on the stock in a research report on Monday, October 26th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in shares of NIO by 99.0% during the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company's stock valued at $85,800,000 after buying an additional 7,079,903 shares in the last quarter. Renaissance Technologies LLC increased its holdings in NIO by 70.2% in the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company's stock worth $87,146,000 after acquiring an additional 5,962,731 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in NIO in the 2nd quarter worth approximately $19,008,000. Hsbc Holdings PLC increased its holdings in NIO by 651.5% in the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company's stock worth $8,051,000 after acquiring an additional 1,387,656 shares in the last quarter. Finally, ABC Arbitrage SA bought a new stake in NIO during the 1st quarter worth approximately $4,043,000. Institutional investors own 48.55% of the company's stock.

NIO Price Performance

Shares of NYSE:NIO opened at $3.19 on Friday. The firm's 50 day moving average price is $3.55 and its 200-day moving average price is $4.86. NIO has a twelve month low of $3.10 and a twelve month high of $7.54. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 2.11. The stock has a market capitalization of $7.93 billion, a PE ratio of -11.83 and a beta of 0.89.

NIO (NYSE:NIO - Get Free Report) last announced its earnings results on Saturday, August 15th. The company reported $0.00 earnings per share (EPS) for the quarter. The company had revenue of $4.73 billion during the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. Equities research analysts expect that NIO will post -0.13 EPS for the current year.

About NIO

NIO Inc is a Chinese smart electric vehicle manufacturer founded in 2014 and headquartered in Shanghai. The company develops, manufactures and sells premium battery-powered passenger vehicles, including sedans, SUVs and coupés. Its vehicle lineup has included models such as the ET7, ET5, ES6, EL6, EL7 and EC6, along with newer vehicles introduced under the NIO and ONVO brands.

In addition to vehicle sales, NIO provides related services and technologies designed to support electric vehicle ownership.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.