Shares of Nio Inc – (NYSE:NIO – Get Rating) gapped down before the market opened on Wednesday . The stock had previously closed at $8.75, but opened at $8.14. NIO shares last traded at $7.80, with a volume of 28,603,030 shares traded.
Analyst Ratings Changes
A number of research analysts have recently commented on NIO shares. Morgan Stanley cut their price target on NIO from $16.10 to $12.00 in a report on Monday, March 20th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $14.00 to $10.00 in a report on Thursday, March 2nd. Mizuho cut their price target on NIO from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, March 2nd. Finally, Barclays lowered NIO from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $18.00 to $10.00 in a report on Thursday, March 2nd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.52.
NIO Trading Down 4.8 %
The company has a current ratio of 1.29, a quick ratio of 1.11 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average price of $8.64 and a 200 day moving average price of $10.03.
Institutional Investors Weigh In On NIO
Hedge funds have recently modified their holdings of the business. WealthPLAN Partners LLC acquired a new stake in NIO in the 1st quarter valued at approximately $27,000. EWG Elevate Inc. acquired a new stake in NIO in the 4th quarter valued at approximately $29,000. AlphaMark Advisors LLC raised its position in NIO by 1,182.4% in the 1st quarter. AlphaMark Advisors LLC now owns 3,052 shares of the company’s stock valued at $32,000 after buying an additional 2,814 shares during the last quarter. UMB Bank n.a. raised its position in NIO by 64.4% in the 4th quarter. UMB Bank n.a. now owns 3,062 shares of the company’s stock valued at $30,000 after buying an additional 1,200 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in NIO in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 30.06% of the company’s stock.
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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