Nio Inc – (NYSE:NIO) shares gapped down prior to trading on Friday . The stock had previously closed at $2.60, but opened at $2.52. NIO shares last traded at $2.42, with a volume of 26998482 shares changing hands.
NIO has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of NIO from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. Goldman Sachs Group initiated coverage on shares of NIO in a research note on Thursday, March 7th. They issued a “buy” rating and a $10.70 price objective for the company. UBS Group reduced their price objective on shares of NIO from $7.00 to $5.50 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Bank of America lowered shares of NIO from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $8.00 to $6.80 in a research note on Wednesday, March 6th. Finally, Deutsche Bank set a $10.00 price objective on shares of NIO and gave the company a “buy” rating in a research note on Thursday, March 7th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $7.27.
The company has a market cap of $2.62 billion and a price-to-earnings ratio of -0.24. The company has a debt-to-equity ratio of 3.73, a quick ratio of 1.34 and a current ratio of 1.49.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its position in shares of NIO by 26.8% during the 1st quarter. Baillie Gifford & Co. now owns 101,787,049 shares of the company’s stock valued at $519,114,000 after purchasing an additional 21,530,655 shares in the last quarter. Temasek Holdings Private Ltd purchased a new position in shares of NIO during the 4th quarter valued at $264,017,000. Hillhouse Capital Management LTD. purchased a new position in shares of NIO during the 1st quarter valued at $108,731,000. Norges Bank purchased a new position in shares of NIO during the 4th quarter valued at $85,995,000. Finally, TPG Group Holdings SBS Advisors Inc. purchased a new position in shares of NIO during the 1st quarter valued at $32,329,000. Hedge funds and other institutional investors own 27.21% of the company’s stock.
NIO Company Profile (NYSE: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.
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