NIO’s (NYSE:NIO) quiet period will expire on Monday, October 22nd. NIO had issued 160,000,000 shares in its IPO on September 12th. The total size of the offering was $1,001,600,000 based on an initial share price of $6.26. During the company’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Several brokerages have recently weighed in on NIO. Goldman Sachs Group began coverage on NIO in a research report on Monday, October 8th. They issued a “neutral” rating and a $7.00 target price for the company. Morgan Stanley began coverage on NIO in a research report on Monday, October 8th. They issued a “buy” rating and a $9.00 target price for the company. Deutsche Bank began coverage on NIO in a research report on Monday, October 8th. They issued a “buy” rating and a $10.00 target price for the company. Wolfe Research began coverage on NIO in a research report on Monday, October 8th. They issued an “outperform” rating and a $8.00 target price for the company. Finally, JPMorgan Chase & Co. began coverage on NIO in a research report on Tuesday, October 9th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $7.64.
Shares of NYSE NIO opened at $7.50 on Friday. NIO has a 1-year low of $5.35 and a 1-year high of $13.80.
An institutional investor recently bought a new position in NIO stock. Nwam LLC bought a new position in Nio Inc – (NYSE:NIO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 32,985 shares of the company’s stock, valued at approximately $230,000.
NIO Company Profile
NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China, the United States, Germany, and the United Kingdom. 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.
Featured Story: How is the discount rate different from the Federal Funds rate?
Receive News & Ratings for NIO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIO and related companies with MarketBeat.com's FREE daily email newsletter.