The stock of NIO Inc. (NYSE:NIO) last traded at $10.53, down -8.51% from the previous session.
As we calculate the median target price by taking the range between a high of $246.42 and a low of $55.42, we find $122.51. Given the previous closing price of $11.51, this indicates a potential upside of 964.38 percent. NIO stock price is now -26.36% away from the 50-day moving average and -42.78% away from the 200-day moving average. The market capitalization of the company currently stands at $15.73B.
Brokers who have rated the stock have averaged $138.88 as their price target over the next twelve months.
With the price target reduced from $24.30 to $12.30, China Renaissance Downgraded its rating from Buy to Hold for NIO Inc. (NYSE: NIO). On May 16, 2022, BofA Securities Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock keeping its target price maintained at $26, while ‘UBS’ rates the stock as ‘Buy’.
A total of 0.47% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NIO stock. A new stake in NIO Inc. shares was purchased by FIFTHDELTA LTD during the first quarter worth $17,238,000. GREAT WEST LIFE ASSURANCE CO /CAN/ invested $17,233,000 in shares of NIO during the first quarter. In the first quarter, MYRIAD ASSET MANAGEMENT US LP acquired a new stake in NIO Inc. valued at approximately $5,265,000. TORQ CAPITAL MANAGEMENT (HK) LTD acquired a new stake in NIO for approximately $5,091,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC purchased a new stake in NIO valued at around $3,695,000 in the second quarter.
With an opening price of $11.17 on Wednesday morning, NIO Inc. (NYSE: NIO) set off the trading day. During the past 12 months, NIO Inc. has had a low of $8.38 and a high of $43.12. As of last week, the company has a debt-to-equity ratio of 0.66, a current ratio of 1.60, and a quick ratio of 1.40.
The net profit margin was -25.30% and return on equity was -33.50% for NIO. The company reported revenue of $1.83 billion for the quarter, compared to $1.52 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 20.11 percent.
NIO Inc.(NIO) Company Profile
NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. It offers five, six, and seven-seater electric SUVs, as well as smart electric sedans. The company is also involved in the provision of energy and service packages to its users; design and technology development activities; manufacture of e-powertrains, battery packs, and components; and sales and after sales management activities. In addition, it offers power solutions, including Power Home, a home charging solution; Power Swap, a battery swapping service; Power Charger, a fast-charging solution; Power Mobile, a mobile charging service through charging vans; Power Map, an application that provides access to a network of public chargers and their real-time information; and One Click for Power valet service, where it offers vehicle pick up, charging, and swapping services. Further, the company provides repair, maintenance, and bodywork services through its NIO service centers and authorized third-party service centers; statutory and third-party liability insurance, and vehicle damage insurance through third-party insurers; courtesy vehicle services; roadside assistance; data packages; and auto financing and financial leasing services. Additionally, it offers NIO Certified, a used vehicle inspection, evaluation, acquisition, and sales service. The company was formerly known as NextEV Inc. and changed its name to NIO Inc. in July 2017. NIO Inc. was incorporated in 2014 and is headquartered in Shanghai, China.