Nio Inc – (NYSE:NIO) Receives $6.11 Average PT from Brokerages

Nio Inc – (NYSE:NIO) has been assigned an average rating of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $6.11.

A number of analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Macquarie raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price objective on the stock in a report on Monday, October 28th. Daiwa America raised shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Finally, Bank of America raised their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th.

Hedge Funds Weigh In On NIO

Hedge funds have recently modified their holdings of the stock. Ridgewood Investments LLC purchased a new position in shares of NIO in the second quarter worth $25,000. Allspring Global Investments Holdings LLC bought a new stake in NIO in the third quarter worth $32,000. Baader Bank Aktiengesellschaft bought a new stake in NIO in the second quarter worth $53,000. Harel Insurance Investments & Financial Services Ltd. increased its position in NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after purchasing an additional 2,651 shares during the last quarter. Finally, Caprock Group LLC bought a new stake in NIO in the second quarter worth $63,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Stock Up 1.5 %

NYSE:NIO opened at $4.50 on Monday. The firm has a market cap of $7.73 billion, a P/E ratio of -2.96 and a beta of 1.91. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. NIO has a fifty-two week low of $3.61 and a fifty-two week high of $9.57. The firm has a 50-day simple moving average of $5.57 and a two-hundred day simple moving average of $4.93.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($2.21). The business had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. NIO’s revenue was up 98.9% compared to the same quarter last year. During the same period last year, the business earned ($0.51) EPS. Analysts predict that NIO will post -1.37 earnings per share for the current fiscal year.

NIO Company Profile

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.