Nio Inc – (NYSE:NIO)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $2.81, but opened at $2.95. NIO shares last traded at $3.08, with a volume of 22,564,152 shares traded.
Several analysts have recently weighed in on NIO shares. Zacks Investment Research downgraded NIO from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Bank of America downgraded NIO from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $6.20 to $3.00 in a research report on Tuesday, May 28th. Finally, UBS Group decreased their target price on NIO from $7.00 to $5.50 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $7.27.
The stock has a market cap of $3.03 billion and a PE ratio of -0.30. The company has a debt-to-equity ratio of 3.73, a quick ratio of 1.34 and a current ratio of 1.49. The company’s 50 day simple moving average is $3.15.
Several institutional investors have recently made changes to their positions in the company. Ausdal Financial Partners Inc. purchased a new position in shares of NIO during the second quarter valued at $52,000. Swiss National Bank purchased a new position in shares of NIO during the second quarter valued at $3,143,000. Sigma Planning Corp purchased a new position in shares of NIO during the second quarter valued at $27,000. Advisor Group Inc. increased its stake in shares of NIO by 20.4% during the second quarter. Advisor Group Inc. now owns 68,848 shares of the company’s stock valued at $176,000 after buying an additional 11,661 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in shares of NIO by 272.8% during the second quarter. BNP Paribas Arbitrage SA now owns 3,940,616 shares of the company’s stock valued at $10,049,000 after buying an additional 2,883,571 shares during the period. Hedge funds and other institutional investors own 27.59% of the company’s stock.
About NIO (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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