NIO (NYSE:NIO) Cut to “Neutral” at JPMorgan Chase & Co.

NIO (NYSE:NIO) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. They currently have a $4.70 price target on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 9.68% from the company’s previous close.

Other equities analysts have also issued reports about the stock. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Macquarie downgraded 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. Finally, The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and cut their target price for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Two investment 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.38.

NIO Stock Down 0.8 %

NIO stock opened at $4.29 on Tuesday. The company’s 50 day moving average price is $4.43 and its 200 day moving average price is $4.76. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of -2.84 and a beta of 1.69. NIO has a fifty-two week low of $3.61 and a fifty-two week high of $7.71. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Hedge Funds Weigh In On NIO

Several hedge funds have recently added to or reduced their stakes in NIO. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO in the third quarter worth $32,000. Blue Trust Inc. increased its position in 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 in the last quarter. Trilogy Capital Inc. acquired a new position in NIO in the 4th quarter valued at about $45,000. First Trust Direct Indexing L.P. purchased a new position in NIO in the 3rd quarter valued at about $76,000. Finally, Apollon Wealth Management LLC acquired a new stake in shares of NIO during the 3rd quarter worth about $78,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.