JPMorgan Chase Increases NIO Price Target to $46

(Ticker Report) – NIO (NYSE:NIO) had its target price raised by investment analysts at JPMorgan Chase & Co. from $40.00 to $46.00 in a report issued on Monday, The Fly reports. JPMorgan Chase & Co.‘s price target points to a potential upside of 10.71% from the company’s current price.

NIO has been the topic of several other reports. Citigroup raised shares of NIO from a “neutral” rating to a “buy” rating in a report on Wednesday, October 14th. Bank of America reissued a “buy” rating and set a $18.00 price objective on shares of NIO in a report on Wednesday, August 12th. Credit Suisse Group lifted their price objective on shares of NIO from $17.50 to $25.00 in a report on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $34.00 price objective on shares of NIO in a report on Tuesday, November 3rd.

Finally, Zacks Investment Research raised shares of NIO from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Tuesday, August 18th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $20.80.

Shares of NYSE:NIO opened at $41.55 on Monday. The firm has a market cap of $42.63 billion, a PE ratio of -36.45 and a beta of 2.61. The firm’s 50 day simple moving average is $26.48 and its 200-day simple moving average is $14.24. NIO has a one year low of $1.66 and a one year high of $45.29.

NIO (NYSE:NIO) last issued its earnings results on Tuesday, August 11th. The company reported ($1.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.73). The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.51 billion. The business’s revenue for the quarter was up 146.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.11) earnings per share. On average, sell-side analysts expect that NIO will post -0.73 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Signaturefd LLC lifted its stake in shares of NIO by 4.2% during the third quarter. Signaturefd LLC now owns 11,146 shares of the company’s stock worth $237,000 after buying an additional 446 shares during the period.

Gradient Investments LLC lifted its position in NIO by 6.3% during the third quarter. Gradient Investments LLC now owns 8,486 shares of the company’s stock valued at $180,000 after purchasing an additional 500 shares during the period. SRS Capital Advisors Inc. lifted its position in NIO by 18.1% during the second quarter. SRS Capital Advisors Inc. now owns 6,495 shares of the company’s stock valued at $50,000 after purchasing an additional 995 shares during the period. CNB Bank lifted its position in NIO by 200.0% during the third quarter. CNB Bank now owns 1,500 shares of the company’s stock valued at $32,000 after purchasing an additional 1,000 shares during the period.

Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in NIO by 53.6% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,148 shares of the company’s stock valued at $88,000 after purchasing an additional 1,448 shares during the period. Institutional investors and hedge funds own 39.43% of the company’s stock.

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.

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