NIO Inc. (NYSE:NIO) Given Consensus Rating of “Hold” by Brokerages

Shares of NIO Inc. (NYSE:NIO) have received a consensus recommendation of “Hold” from the thirteen research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $6.57.

A number of equities research analysts recently issued reports on NIO shares. Sanford C. Bernstein reiterated a “market perform” rating and set a $6.00 target price on shares of NIO in a research report on Friday, May 22nd. The Goldman Sachs Group upgraded NIO from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Monday, July 13th. Bank of America reissued a “neutral” rating and issued a $6.80 price target on shares of NIO in a research note on Thursday, May 21st. Zacks Research upgraded NIO from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research note on Wednesday, July 29th.

NIO Price Performance

Shares of NYSE:NIO opened at $4.36 on Friday. The firm has a market capitalization of $10.81 billion, a PE ratio of -7.92 and a beta of 0.91. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. The business’s 50 day moving average is $4.75 and its 200-day moving average is $5.35. NIO has a 1-year low of $4.30 and a 1-year high of $8.02.

Hedge Funds Weigh In On NIO

Several institutional investors have recently modified their holdings of NIO. Corient Private Wealth LP boosted its holdings in shares of NIO by 11.0% in the second quarter. Corient Private Wealth LP now owns 46,441 shares of the company’s stock valued at $235,000 after buying an additional 4,593 shares during the period. HighTower Advisors LLC increased its position in shares of NIO by 15.7% in the second quarter. HighTower Advisors LLC now owns 68,866 shares of the company’s stock valued at $348,000 after acquiring an additional 9,357 shares during the last quarter. XY Capital Ltd raised its stake in shares of NIO by 26.5% during the 2nd quarter. XY Capital Ltd now owns 562,296 shares of the company’s stock worth $2,845,000 after purchasing an additional 117,946 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in NIO by 20.9% during the second quarter. TD Waterhouse Canada Inc. now owns 28,172 shares of the company’s stock worth $140,000 after acquiring an additional 4,877 shares in the last quarter. Finally, Nykredit A S bought a new stake in shares of NIO in the 2nd quarter valued at about $964,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

About NIO

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.