NIO (NIO) Shares Gap Down to $7.77

Shares of Nio Inc – (NYSE:NIO) gapped down before the market opened on Thursday . The stock had previously closed at $7.94, but opened at $7.77. NIO shares last traded at $7.50, with a volume of 11890670 shares.

Several analysts have recently issued reports on the company. Goldman Sachs Group assumed coverage on NIO in a research note on Monday, October 8th. They set a “neutral” rating and a $7.00 price target for the company. Morgan Stanley assumed coverage on NIO in a research note on Monday, October 8th. They set a “buy” rating and a $9.00 price target for the company. Deutsche Bank assumed coverage on NIO in a research note on Monday, October 8th. They set a “buy” rating and a $10.00 price target for the company. Wolfe Research began coverage on NIO in a research note on Monday, October 8th. They set an “outperform” rating and a $8.00 price target for the company. Finally, JPMorgan Chase & Co. began coverage on NIO in a research note on Tuesday, October 9th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.64.

A hedge fund recently bought a new stake in NIO stock. Nwam LLC purchased a new stake in Nio Inc – (NYSE:NIO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 32,985 shares of the company’s stock, valued at approximately $230,000.

About NIO (NYSE:NIO)

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.

See Also: Earnings Per Share

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