NIO (NYSE:NIO) Downgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. cut shares of NIO (NYSE:NIO) from an overweight rating to a neutral rating in a report published on Tuesday morning, Marketbeat Ratings reports. The firm currently has $4.70 price target on the stock, down from their previous price target of $7.00.

A number of other equities analysts have also weighed in on the company. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $4.80 to $3.90 in a report on Monday, November 25th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, NIO presently has an average rating of “Hold” and a consensus target price of $5.38.

NIO Stock Up 0.1 %

NIO stock opened at $4.21 on Tuesday. The company has a market cap of $8.78 billion, a price-to-earnings ratio of -2.78 and a beta of 1.69. NIO has a twelve month low of $3.61 and a twelve month high of $7.71. The business has a 50 day moving average price of $4.42 and a two-hundred day moving average price of $4.75. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Investors Weigh In On NIO

Several hedge funds have recently added to or reduced their stakes in NIO. FMR LLC raised its stake in shares of NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the last quarter. Quadrature Capital Ltd raised its position in NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after purchasing an additional 538,907 shares during the last quarter. SG Americas Securities LLC lifted its holdings in NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after buying an additional 589,082 shares during the period. Swedbank AB grew its position in shares of NIO by 0.8% in the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock valued at $4,657,000 after buying an additional 9,000 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of NIO in the third quarter valued at about $4,879,000. 48.55% of the stock is currently 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.