NIO (NYSE:NIO) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of NIO (NYSE:NIO) from an overweight rating to a neutral rating in a report issued on Tuesday morning, Marketbeat.com reports. They currently have $4.70 target price on the stock, down from their previous target price of $7.00.

Several other brokerages have also recently issued reports on NIO. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. HSBC cut NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and reduced their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. Finally, Macquarie cut shares of 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NIO currently has a consensus rating of “Hold” and an average price target of $5.38.

NIO Price Performance

Shares of NIO opened at $4.39 on Tuesday. The firm has a 50-day simple moving average of $4.43 and a two-hundred day simple moving average of $4.76. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. NIO has a 1-year low of $3.61 and a 1-year high of $7.71. The stock has a market cap of $9.15 billion, a PE ratio of -2.90 and a beta of 1.69.

Hedge Funds Weigh In On NIO

Institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC raised its stake in NIO by 580.9% in the 3rd quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock valued at $2,621,000 after purchasing an additional 334,723 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after buying an additional 132,237 shares during the period. FMR LLC boosted its position in NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after acquiring an additional 5,296,601 shares during the last quarter. Main Management ETF Advisors LLC purchased a new stake in NIO in the 3rd quarter worth approximately $1,327,000. Finally, Signaturefd LLC raised its holdings in NIO by 16.9% in the 3rd quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock valued at $325,000 after acquiring an additional 7,014 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

About 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.