NIO

JP Morgan Downgrades NIO Inc. - Depositary Receipt () (NIO)

Fintel reports that on February 23, 2024, JP Morgan downgraded their outlook for NIO Inc. - Depositary Receipt () (NYSE:NIO) from Neutral to Underweight .

Analyst Price Forecast Suggests 90.18% Upside

As of January 19, 2024, the average one-year price target for NIO Inc. - Depositary Receipt () is 11.13. The forecasts range from a low of 7.58 to a high of $22.89. The average price target represents an increase of 90.18% from its latest reported closing price of 5.85.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for NIO Inc. - Depositary Receipt () is 131,610MM, an increase of 141.14%. The projected annual non-GAAP EPS is -0.21.

What is the Fund Sentiment?

There are 651 funds or institutions reporting positions in NIO Inc. - Depositary Receipt (). This is an increase of 2 owner(s) or 0.31% in the last quarter. Average portfolio weight of all funds dedicated to NIO is 0.18%, a decrease of 18.67%. Total shares owned by institutions decreased in the last three months by 2.39% to 428,962K shares. NIO / NIO Inc. - Depositary Receipt (Common Stock) Put/Call Ratios The put/call ratio of NIO is 0.68, indicating a bullish outlook.

What are Other Shareholders Doing?

NIO / NIO Inc. - Depositary Receipt (Common Stock) Shares Held by Institutions

Baillie Gifford holds 114,636K shares representing 5.51% ownership of the company. In it's prior filing, the firm reported owning 114,904K shares, representing a decrease of 0.23%. The firm decreased its portfolio allocation in NIO by 13.06% over the last quarter.

VWIGX - Vanguard International Growth Fund Investor Shares holds 38,610K shares representing 1.86% ownership of the company. No change in the last quarter.

Goldman Sachs Group holds 13,007K shares representing 0.63% ownership of the company. In it's prior filing, the firm reported owning 15,379K shares, representing a decrease of 18.24%. The firm decreased its portfolio allocation in NIO by 24.19% over the last quarter.

IEMG - iShares Core MSCI Emerging Markets ETF holds 12,645K shares representing 0.61% ownership of the company. In it's prior filing, the firm reported owning 12,631K shares, representing an increase of 0.11%. The firm decreased its portfolio allocation in NIO by 29.80% over the last quarter.

Ubs Asset Management Americas holds 10,490K shares representing 0.50% ownership of the company. In it's prior filing, the firm reported owning 8,620K shares, representing an increase of 17.82%. The firm decreased its portfolio allocation in NIO by 84.78% over the last quarter.

NIO Background Information
(This description is provided by the company.)

NIO Inc. is a pioneer in China's premium smart electric vehicle market. Founded in November 2014, NIO's mission is to shape a joyful lifestyle. NIO aims to build a community starting with smart electric vehicles to share joy and grow together with users. NIO designs, jointly manufactures, and sells smart premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence. Redefining the user experience, NIO provides users with comprehensive and convenient power solutions, the Battery as a Service (BaaS), NIO Pilot and NIO Autonomous Driving (NAD), Autonomous Driving as a Service (ADaaS) and other user-centric services. NIO began deliveries of the ES8, a 7-seater flagship premium electric SUV, in China in June 2018, and its variant, the 6-seater ES8, in March 2019. NIO officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began deliveries of the ES6 in June 2019. NIO officially launched the EC6, a 5-seater premium electric coupe SUV, in December 2019 and began deliveries of the EC6 in September 2020. On January 9, 2021, NIO ET7, the smart electric flagship sedan and NIO's first autonomous driving model, was officially launched.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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