NIO (NIO) Shares Gap Down to $6.74

Nio Inc – (NYSE:NIO) gapped down before the market opened on Thursday . The stock had previously closed at $6.99, but opened at $6.74. NIO shares last traded at $6.69, with a volume of 20498873 shares.

NIO has been the subject of several recent analyst reports. Credit Suisse Group initiated coverage on NIO in a research note on Monday, October 22nd. They set an “outperform” rating and a $12.60 target price for the company. Wolfe Research initiated coverage on NIO in a research note on Monday, October 8th. They set an “outperform” rating and a $8.00 target price for the company. Sanford C. Bernstein initiated coverage on NIO in a research note on Thursday, September 13th. They set an “underperform” rating and a $4.20 target price for the company. Deutsche Bank initiated coverage on NIO in a research note on Monday, October 8th. They set a “buy” rating and a $10.00 target price for the company. Finally, JPMorgan Chase & Co. initiated coverage on NIO in a research note on Tuesday, October 9th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.47.

A number of institutional investors have recently made changes to their positions in NIO. Nwam LLC acquired a new stake in NIO in the third quarter valued at approximately $230,000. Wells Fargo & Company MN acquired a new stake in NIO in the third quarter valued at approximately $219,000. Strategic Wealth Advisors Group LLC acquired a new stake in NIO in the third quarter valued at approximately $228,000. MML Investors Services LLC acquired a new stake in NIO in the third quarter valued at approximately $266,000. Finally, National Asset Management Inc. acquired a new stake in NIO in the third quarter valued at approximately $105,000. 0.01% of the stock is owned by hedge funds and other institutional investors.

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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.

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