Analysts Set NIO Inc. (NYSE:NIO) Target Price at $6.70

Shares of NIO Inc. (NYSE:NIO) have been given an average rating of “Moderate Buy” by the fourteen analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $6.70.

Several equities analysts have weighed in on the company. Sanford C. Bernstein reissued a “market perform” rating and set a $6.00 price objective on shares of NIO in a report on Friday, May 22nd. Bank of America restated a “neutral” rating and issued a $6.80 target price on shares of NIO in a research note on Thursday, May 21st. Zacks Research upgraded NIO from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a report on Wednesday, July 29th. Finally, The Goldman Sachs Group upgraded NIO from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Monday, July 13th.

NIO Trading Down 0.7%

NYSE NIO opened at $4.78 on Wednesday. The stock has a market capitalization of $11.86 billion, a price-to-earnings ratio of -8.68 and a beta of 0.91. NIO has a one year low of $4.37 and a one year high of $8.02. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90. The business’s fifty day moving average is $5.05 and its 200-day moving average is $5.36.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of NIO by 3,966.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock worth $20,255,000 after purchasing an additional 5,185,565 shares during the last quarter. Franklin Resources Inc. lifted its position in NIO by 50.9% during the second quarter. Franklin Resources Inc. now owns 17,707 shares of the company’s stock valued at $61,000 after purchasing an additional 5,974 shares during the last quarter. Invesco Ltd. grew its stake in NIO by 22.7% in the 2nd quarter. Invesco Ltd. now owns 2,738,308 shares of the company’s stock worth $9,392,000 after buying an additional 506,618 shares in the last quarter. First Trust Advisors LP grew its stake in NIO by 67.4% in the 2nd quarter. First Trust Advisors LP now owns 73,280 shares of the company’s stock worth $251,000 after buying an additional 29,501 shares in the last quarter. Finally, AXA S.A. bought a new position in shares of NIO in the 2nd quarter worth $64,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

About NIO

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.