5 Reddit Stocks That Are Too Cheap To Ignore

4. NIO Inc. (NYSE:NIO)

Number of Hedge Fund Holders: 26

Share Price as of November 22: $10.02

NIO Inc. (NYSE:NIO) is an automobile manufacturing company based in China. It sells smart electric vehicles such as five, six, and seven-seater electric SUVs, alongside smart electric sedans.

Edison Yu at Deutsche Bank holds a Buy rating on NIO Inc. (NYSE:NIO) shares as of November 21. The analyst also raised his price target on the stock from $20 to $21.

NIO Inc. (NYSE:NIO) is a unique company in the automotive sector with significant growth prospects and profitability potential. Consensus revenue estimates for the company are for about $14 billion in 2023, showing a more affordable stock trading at only about 1.24 times forward sales now. This makes it a highly undervalued stock investors should pick up before it explodes.

NIO Inc. (NYSE:NIO) was found among the 13F holdings of 26 hedge funds in the third quarter, and 25 hedge funds in the previous quarter. Their total stake values were $518.9 million and $873.9 million, respectively.

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