Shares of Nio Inc – (NYSE:NIO) dropped 6.3% during mid-day trading on Tuesday . The stock traded as low as $4.43 and last traded at $4.45. Approximately 45,903,620 shares changed hands during trading, an increase of 63% from the average daily volume of 28,229,969 shares. The stock had previously closed at $4.75.
Several research firms have recently issued reports on NIO. Deutsche Bank set a $10.00 price target on shares of NIO and gave the company a “buy” rating in a research note on Thursday, March 7th. Goldman Sachs Group began coverage on shares of NIO in a research note on Thursday, March 7th. They set a “buy” rating and a $10.70 price target for the company. Citigroup raised shares of NIO from a “neutral” rating to a “buy” rating and dropped their price target for the company from $7.20 to $6.80 in a research note on Thursday, April 4th. Zacks Investment Research raised shares of NIO from a “sell” rating to a “hold” rating in a research note on Thursday, February 28th. Finally, Bank of America raised shares of NIO from an “underperform” rating to a “neutral” rating and lowered their target price for the stock from $6.80 to $6.20 in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. NIO has a consensus rating of “Hold” and an average price target of $8.02.
The company has a market capitalization of $5.12 billion and a price-to-earnings ratio of -0.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.25 and a current ratio of 1.42.
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About NIO (NYSE: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.
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