Nio Inc – (NYSE:NIO) shares 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 changing hands.

Several brokerages recently issued reports on NIO. Wolfe Research began coverage on NIO in a research report on Monday, October 8th. They set an “outperform” rating and a $8.00 target price on the stock. Goldman Sachs Group started coverage on NIO in a research report on Monday, October 8th. They set a “neutral” rating and a $7.00 target price on the stock. JPMorgan Chase & Co. started coverage on NIO in a report on Tuesday, October 9th. They set a “neutral” rating on the stock. Sanford C. Bernstein started coverage on NIO in a report on Thursday, September 13th. They set an “underperform” rating and a $4.20 price target on the stock. Finally, Deutsche Bank started coverage on NIO in a report on Monday, October 8th. They set a “buy” rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $8.47.

A number of institutional investors have recently modified their holdings of NIO. Artal Group S.A. bought a new stake in NIO during the third quarter worth $10,470,000. Bank of New York Mellon Corp bought a new stake in NIO during the third quarter worth $8,743,000. MML Investors Services LLC bought a new stake in NIO during the third quarter worth $266,000. Nwam LLC bought a new stake in NIO during the third quarter worth $230,000. Finally, Strategic Wealth Advisors Group LLC bought a new stake in NIO during the third quarter worth $228,000. Institutional investors and hedge funds own 0.01% of the company’s stock.

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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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