Log in

NIO's (NIO) "Buy" Rating Reiterated at Bank of America

Last updated on Friday, November 27, 2020 | 2020 MarketBeat

NIO (NYSE:NIO)'s stock had its "buy" rating reiterated by analysts at Bank of America in a research report issued on Friday, Briefing.com reports. They currently have a $54.70 price objective on the stock. Bank of America's price objective points to a potential upside of 0.66% from the company's previous close.

Other analysts also recently issued research reports about the company. Morgan Stanley upgraded NIO from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $12.00 to $20.50 in a research note on Wednesday, August 26th. UBS Group upgraded NIO from a "sell" rating to a "neutral" rating and set a $16.30 price target on the stock in a research note on Tuesday, August 25th. Credit Suisse Group boosted their price target on NIO from $17.50 to $25.00 in a research note on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on NIO from $34.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, November 19th. Finally, HSBC started coverage on NIO in a research note on Friday, October 30th. They set a "hold" rating and a $30.00 price target on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of "Hold" and a consensus price target of $24.31.

NIO stock opened at $54.34 on Friday. The business's 50-day simple moving average is $35.39 and its two-hundred day simple moving average is $17.79. The company has a market cap of $55.09 billion, a PE ratio of -47.67 and a beta of 2.61. NIO has a fifty-two week low of $2.11 and a fifty-two week high of $57.20.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Electron Capital Partners LLC acquired a new position in NIO in the 2nd quarter worth about $69,808,000. Robecosam AG acquired a new position in NIO in the 3rd quarter worth about $101,856,000. Aspex Management HK Ltd acquired a new position in NIO in the 3rd quarter worth about $84,880,000. WT Asset Management Ltd acquired a new position in NIO in the 2nd quarter worth about $19,623,000. Finally, Trivest Advisors Ltd acquired a new position in NIO in the 3rd quarter worth about $35,650,000. 39.43% 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.

Recommended Story: What is the market perform rating?

Analyst Recommendations for NIO (NYSE:NIO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]


7 Cloud Computing Stocks to Lift Your Portfolio to New Heights

Cloud computing sounds complicated, and it has become more sophisticated as it evolves. However, the basic idea behind the cloud is the same. The “cloud” is a euphemistic term for the delivery of different services via the internet. In its early days, the cloud was used exclusively for data storage. Here’s an easy example of why this was important.

Back when the internet was cutting its teeth, I worked in marketing communications. The need to comply with Total Quality Control Systems (TQCS) for our largest clients meant we had to save every version of our files. Every. Single. One. Now imagine that you’re producing a 120-page product catalog complete with photos and charts. Your hard drive is burning up just thinking about it. Yet that “data” had to be stored somewhere. And so we had a virtual server farm to try to warehouse all these graphic intensive (and memory sucking) files until we could archive them.

Other than the storage nightmare, consider that it was a pain to work remotely. You could copy a file from the server, but then were you working on the right file? I’m sure at least one person is reading this who remembers this pain.

The cloud takes that away. Cloud computing allows you to store files on a secure, remote server that everyone can access anywhere they have an internet connection. But it’s become so much more than that. Cloud computing now gives businesses a platform from which they can create applications and software. If that sounds confusing, I hope to simplify it in this presentation. To help you understand which cloud computing stocks, you may want to add to your portfolio, and we’ve created this special presentation. These are seven of the cloud computing stocks that will continue to grow with the sector.

View the "7 Cloud Computing Stocks to Lift Your Portfolio to New Heights".

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.