Nio Inc – (NYSE:NIO – Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.03, but opened at $5.28. NIO shares last traded at $5.14, with a volume of 22,699,635 shares changing hands.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and cut their price target for the company from $4.80 to $3.90 in a research note on Monday, November 25th. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.03.
View Our Latest Research Report on NIO
NIO Stock Performance
Institutional Investors Weigh In On NIO
A number of hedge funds and other institutional investors have recently bought and sold shares of NIO. Blue Trust Inc. increased its position in shares of NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after purchasing an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of NIO by 131.8% during the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after purchasing an additional 4,332 shares during the last quarter. Callan Family Office LLC acquired a new position in shares of NIO during the 4th quarter worth approximately $44,000. Sava Infond d.o.o. acquired a new position in shares of NIO during the 4th quarter worth approximately $44,000. Finally, Trilogy Capital Inc. acquired a new position in shares of NIO during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 48.55% of the company’s stock.
NIO Company Profile
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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