NIO (NYSE:NIO) Receives New Coverage from Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of NIO (NYSE:NIO) in a research report report published on Thursday morning, Marketbeat Ratings reports. The firm issued a peer perform rating on the stock.

NIO has been the subject of several other reports. Citigroup decreased their target price on shares of NIO from $8.50 to $7.00 and set a buy rating for the company in a research note on Wednesday. JPMorgan Chase & Co. raised shares of NIO from an underweight rating to a neutral rating and upped their price target for the company from $4.80 to $5.40 in a report on Wednesday, May 15th. Finally, Bank of America upped their price target on shares of NIO from $5.90 to $6.00 and gave the company a neutral rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $6.68.

NIO Price Performance

Shares of NIO stock opened at $4.85 on Thursday. The company has a market capitalization of $8.34 billion, a PE ratio of -2.87 and a beta of 1.82. The firm has a fifty day simple moving average of $4.25 and a 200-day simple moving average of $4.72. The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. NIO has a twelve month low of $3.61 and a twelve month high of $10.91.

NIO (NYSE:NIO) last announced its earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. Equities research analysts anticipate that NIO will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of NIO

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new stake in shares of NIO during the second quarter worth $228,000. Truist Financial Corp grew its position in shares of NIO by 32.2% during the second quarter. Truist Financial Corp now owns 25,253 shares of the company’s stock worth $105,000 after acquiring an additional 6,150 shares during the last quarter. Creative Planning grew its position in shares of NIO by 34.7% during the second quarter. Creative Planning now owns 268,318 shares of the company’s stock worth $1,116,000 after acquiring an additional 69,143 shares during the last quarter. SIH Partners LLLP grew its position in shares of NIO by 104.0% during the second quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock worth $2,760,000 after acquiring an additional 338,320 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of NIO by 10.7% during the second quarter. The Manufacturers Life Insurance Company now owns 181,043 shares of the company’s stock worth $753,000 after acquiring an additional 17,467 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

About NIO

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. 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. In addition, it offers power solutions for battery charging needs; and other value-added services.