M&G Investment Management Ltd. has increased its stake in Nio Inc., an electric vehicle manufacturer based in China, by 12.5% during the fourth quarter of 2022, according to the Securities & Exchange Commission. The institutional investor now owns 311,597 shares of Nio, valued at $3.12 million. Other hedge funds, such as E Fund Management Hong Kong Co. Ltd., US Bancorp DE, Cibc World Market Inc., Dimensional Fund Advisors LP, and Sei Investments Co., have also added to their stakes in Nio. In total, hedge funds and institutional investors own 30.06% of the company’s stock.

As of Monday, Nio’s shares opened at $9.01, with a 12-month low of $8.03 and a high of $24.43. Nio has a debt-to-equity ratio of 0.45, a quick ratio of 1.11, and a current ratio of 1.29. The company has a 50-day moving average of $9.74 and a 200-day moving average of $11.12.

Analysts Overview

Several Analysts have provided ratings and price targets for Nio. JPMorgan Chase & Co. downgraded Nio from “overweight” to “neutral” and reduced the price target from $14.00 to $10.00. Morgan Stanley lowered the price target from $16.10 to $12.00. China Renaissance decreased the price objective from $12.30 to $10.40 and set a “hold” rating. Barclays downgraded Nio from “overweight” to “equal weight” and decreased the target price from $18.00 to $10.00. Finally, Mizuho lowered the target price from $28.00 to $25.00 and set a “buy” rating. Currently, five research analysts have rated the stock as a “hold,” while six have given it a “buy” rating. The average rating of the stock is “Strong Buy,” with an average price target of $17.52, according to StockTargetAdvisor data.

Nio Inc. Stock Forecast

Nio Inc Class A ADR is expected to have an average analyst target price of USD 17.55 in the next 12 months, based on the stock forecast from 12 analysts. The average analyst rating for the company is Strong Buy. However, Stock Target Advisor’s own analysis of the stock is Bearish, with 2 positive and 5 negative signals. The stock closed at USD 9.52 in the last trading session. Over the past week, Nio Inc Class A ADR’s stock price has increased by +3.37%, while it has gained +11.87% over the past month. However, the company’s stock price has decreased by -51.68% over the past year.

Company Overview

NIO Inc. is a Chinese company that designs, develops, and sells smart electric vehicles, including SUVs and sedans. They also provide energy and service packages to customers, as well as manufacture e-powertrains, battery packs, and components. NIO offers various power solutions, such as home charging, battery swapping, fast-charging, and mobile charging services. The company also provides repair, maintenance, and bodywork services through its service centers, as well as auto financing and leasing services. NIO Inc. was formerly known as NextEV Inc. and was founded in 2014. The company is headquartered in Shanghai, China.

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