NIO (NIO) Upgraded to Buy by Citigroup

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NIO (NYSE:NIO) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a report released on Thursday, The Fly reports.

NIO has been the topic of a number of other research reports. Zacks Investment Research lowered NIO from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. Deutsche Bank set a $9.00 price target on NIO and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. 86 Research initiated coverage on NIO in a research report on Tuesday, January 15th. They set a “sell” rating and a $4.70 price target on the stock. Goldman Sachs Group initiated coverage on NIO in a research report on Thursday, March 7th. They set a “buy” rating and a $10.70 price target on the stock. Finally, Bank of America lowered NIO from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $8.00 to $6.80 in a research report on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $8.25.

NYSE NIO opened at $5.31 on Thursday. The stock has a market cap of $5.53 billion and a PE ratio of -0.52. The company has a current ratio of 1.42, a quick ratio of 1.25 and a debt-to-equity ratio of 0.17. NIO has a one year low of $4.90 and a one year high of $13.80.

Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN bought a new position in shares of NIO during the third quarter worth about $219,000. Warburg Pincus LLC bought a new position in NIO in the third quarter valued at approximately $193,861,000. Bank of New York Mellon Corp bought a new position in NIO in the third quarter valued at approximately $8,743,000. Summit Wealth & Retirement Planning Inc. bought a new position in NIO in the fourth quarter valued at approximately $660,000. Finally, Morgan Stanley bought a new position in shares of NIO during the 3rd quarter worth approximately $88,086,000. Institutional investors and hedge funds own 19.30% 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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Analyst Recommendations for NIO (NYSE:NIO)

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