NIO (NYSE:NIO) Upgraded by Daiwa America to “Strong-Buy”

Daiwa America upgraded shares of NIO (NYSE:NIO) to a strong-buy rating in a report released on Monday morning, Zacks.com reports.

A number of other analysts have also weighed in on NIO. JPMorgan Chase & Co. upgraded NIO from a neutral rating to an overweight rating and increased their target price for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Wolfe Research initiated coverage on shares of NIO in a research note on Thursday, September 5th. They issued a peer perform rating on the stock. Citigroup lowered their price objective on shares of NIO from $8.50 to $7.00 and set a buy rating for the company in a research report on Wednesday, September 4th. Finally, Bank of America upped their target price on shares of NIO from $5.00 to $5.30 and gave the stock a neutral rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $5.93.

NIO Price Performance

NIO stock opened at $6.72 on Monday. The firm has a market capitalization of $11.54 billion, a PE ratio of -3.97 and a beta of 1.82. NIO has a 12-month low of $3.61 and a 12-month high of $9.57. The firm has a 50-day moving average price of $4.73 and a 200-day moving average price of $4.73. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last announced its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The business had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same quarter in the previous year, the business earned ($0.51) earnings per share. The company’s revenue for the quarter was up 98.9% compared to the same quarter last year. As a group, equities research analysts forecast that NIO will post -1.37 EPS for the current year.

Hedge Funds Weigh In On NIO

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in shares of NIO by 32.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after acquiring an additional 343,910 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in NIO by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after purchasing an additional 439,474 shares in the last quarter. Electron Capital Partners LLC lifted its position in shares of NIO by 5.6% during the fourth quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock valued at $40,180,000 after buying an additional 235,521 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of NIO by 127.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company’s stock valued at $1,704,000 after buying an additional 211,936 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of NIO by 28.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after buying an additional 535,400 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

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.