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

JPMorgan Chase & Co. downgraded shares of NIO (NYSE:NIO) from an overweight rating to a neutral rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have $4.70 price objective on the stock, down from their prior price objective of $7.00.

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

NIO Trading Up 0.1 %

Shares of NIO opened at $4.21 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The company has a market cap of $8.78 billion, a price-to-earnings ratio of -2.78 and a beta of 1.69. The stock has a fifty day moving average price of $4.42 and a two-hundred day moving average price of $4.75. NIO has a 52-week low of $3.61 and a 52-week high of $7.71.

Hedge Funds Weigh In On NIO

Several institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its position in shares of NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after acquiring an additional 3,607 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in NIO in the third quarter worth $32,000. Jones Financial Companies Lllp boosted its position in shares of NIO by 131.8% during the fourth 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 in the last quarter. Trilogy Capital Inc. acquired a new position in shares of NIO in the 4th quarter valued at $45,000. Finally, U.S. Capital Wealth Advisors LLC bought a new stake in shares of NIO in the 4th quarter valued at $53,000. 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.