NIO (NYSE:NIO – Get Rating) had its price objective increased by Deutsche Bank Aktiengesellschaft from $20.00 to $21.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.
Several other equities analysts have also commented on NIO. Citigroup dropped their price target on shares of NIO from $41.10 to $31.30 and set a buy rating for the company in a research report on Thursday, September 8th. UBS Group lowered shares of NIO from a buy rating to a neutral rating and dropped their price objective for the stock from $32.00 to $13.00 in a research report on Thursday, November 17th. Barclays dropped their price objective on shares of NIO from $19.00 to $18.00 and set an overweight rating for the company in a research report on Thursday, November 17th. Bank of America dropped their price objective on shares of NIO from $16.00 to $15.00 and set a buy rating for the company in a research report on Friday, November 11th. Finally, Mizuho dropped their price objective on shares of NIO from $40.00 to $34.00 and set a buy rating for the company in a research report on Friday, November 11th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, NIO currently has an average rating of Moderate Buy and an average target price of $24.96.
NIO Stock Performance
Shares of NIO stock opened at $10.56 on Monday. NIO has a one year low of $8.38 and a one year high of $42.51. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.42 and a current ratio of 1.59. The company has a 50 day moving average price of $12.93 and a 200 day moving average price of $17.08. The firm has a market capitalization of $17.62 billion, a price-to-earnings ratio of -10.56 and a beta of 1.74.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in NIO. Renaissance Technologies LLC boosted its stake in NIO by 229.0% during the 2nd quarter. Renaissance Technologies LLC now owns 17,768,900 shares of the company’s stock valued at $385,941,000 after acquiring an additional 12,367,300 shares during the last quarter. Baillie Gifford & Co. boosted its stake in NIO by 9.0% during the 2nd quarter. Baillie Gifford & Co. now owns 96,731,139 shares of the company’s stock valued at $2,101,001,000 after acquiring an additional 7,980,518 shares during the last quarter. Aspex Management HK Ltd boosted its stake in NIO by 145.9% during the 3rd quarter. Aspex Management HK Ltd now owns 10,113,800 shares of the company’s stock valued at $159,495,000 after acquiring an additional 6,000,000 shares during the last quarter. CI Investments Inc. lifted its position in shares of NIO by 151,311.5% in the 2nd quarter. CI Investments Inc. now owns 2,919,214 shares of the company’s stock worth $63,405,000 after buying an additional 2,917,286 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of NIO by 73.2% in the 3rd quarter. Barclays PLC now owns 5,915,266 shares of the company’s stock worth $93,283,000 after buying an additional 2,499,047 shares during the last quarter. 31.52% of the stock is currently owned by institutional investors.
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.
- Get a free copy of the StockNews.com research report on NIO (NIO)
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