Brokerages Set NIO Inc. (NYSE:NIO) Target Price at $6.80

Shares of NIO Inc. (NYSE:NIO) have earned a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $6.80.

Several research analysts have commented on NIO shares. Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target for the company in a report on Wednesday, March 11th. Weiss Ratings restated a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. HSBC raised shares of NIO from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $4.80 to $6.80 in a research report on Friday, March 13th. Dbs Bank raised NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. Finally, Bank of America restated a “neutral” rating on shares of NIO in a research note on Tuesday, March 10th.

NIO Stock Up 3.7%

NIO stock opened at $5.51 on Thursday. The company’s 50 day moving average price is $5.09 and its 200 day moving average price is $5.73. The firm has a market capitalization of $12.65 billion, a price-to-earnings ratio of -5.68 and a beta of 1.11. NIO has a fifty-two week low of $3.02 and a fifty-two week high of $8.02. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.87 and a current ratio of 0.98.

Institutional Investors Weigh In On NIO

Hedge funds and other institutional investors have recently made changes to their positions in the business. WT Asset Management Ltd acquired a new position in NIO in the third quarter valued at $142,120,000. ABC Arbitrage SA acquired a new stake in shares of NIO during the third quarter worth about $1,857,000. American Century Companies Inc. lifted its holdings in shares of NIO by 37.4% in the 2nd quarter. American Century Companies Inc. now owns 965,409 shares of the company’s stock valued at $3,311,000 after purchasing an additional 262,637 shares during the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of NIO in the 3rd quarter valued at about $91,440,000. Finally, HUB Investment Partners LLC acquired a new stake in shares of NIO in the 3rd quarter valued at about $1,758,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Company Profile

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.