NIO logo” title=”NIO logo” class=”companylogo”/>NIO (NYSE:NIO) had its price target raised by equities research analysts at HSBC from $44.70 to $54.00 in a report released on Friday, The Fly reports. The brokerage currently has a “hold” rating on the stock. HSBC’s target price indicates a potential upside of 14.67% from the stock’s previous close.
A number of other equities analysts have also weighed in on the company. Jefferies Financial Group started coverage on NIO in a research note on Tuesday, January 19th. They set a “hold” rating and a $60.00 target price on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded NIO from a “buy” rating to a “neutral” rating and increased their price target for the stock from $46.40 to $68.30 in a research report on Tuesday, January 12th. The Goldman Sachs Group raised NIO from a “sell” rating to a “neutral” rating and increased their price target for the stock from $7.70 to $59.00 in a research report on Tuesday, December 1st. Bank of America increased their price target on NIO from $59.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, January 11th. Finally, JPMorgan Chase & Co. raised their target price on NIO from $50.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, January 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. NIO has a consensus rating of “Hold” and an average price target of $48.54.
NYSE:NIO traded up $0.28 on Friday, hitting $47.09. The company’s stock had a trading volume of 1,194,774 shares, compared to its average volume of 102,033,555. The firm has a market capitalization of $60.37 billion, a P/E ratio of -50.01 and a beta of 2.81. The company has a current ratio of 2.42, a quick ratio of 2.33 and a debt-to-equity ratio of 0.84. NIO has a one year low of $2.11 and a one year high of $66.99. The stock has a fifty day moving average of $58.05 and a two-hundred day moving average of $38.37.
Large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. raised its holdings in shares of NIO by 180.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,223 shares of the company’s stock worth $1,681,000 after purchasing an additional 50,981 shares during the period. CNB Bank raised its holdings in NIO by 77.0% during the 4th quarter. CNB Bank now owns 2,655 shares of the company’s stock valued at $129,000 after acquiring an additional 1,155 shares during the period. Alberta Investment Management Corp bought a new stake in NIO during the 3rd quarter valued at $1,940,000. Charles Schwab Investment Management Inc. raised its holdings in NIO by 17.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,165,274 shares of the company’s stock valued at $24,728,000 after acquiring an additional 174,107 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in NIO by 12.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 69,385 shares of the company’s stock valued at $1,472,000 after acquiring an additional 7,664 shares during the period.
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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