Nio Inc – (NYSE:NIO) Given Average Recommendation of “Hold” by Brokerages

Nio Inc – (NYSE:NIO) has been given an average rating of “Hold” by the eleven brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $5.93.

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Wolfe Research assumed coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Citigroup reduced their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $5.30 to $8.00 in a report on Friday, September 6th.

NIO Trading Down 2.2 %

Shares of NIO stock opened at $5.28 on Friday. The company has a 50-day moving average of $4.42 and a two-hundred day moving average of $4.69. The firm has a market cap of $9.08 billion, a PE ratio of -3.12 and a beta of 1.82. NIO has a 1-year low of $3.61 and a 1-year high of $9.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting analysts’ consensus estimates of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The firm’s quarterly revenue was up 98.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.51) EPS. On average, analysts predict that NIO will post -1.41 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of large investors have recently modified their holdings of NIO. Principal Securities Inc. acquired a new position in shares of NIO during the 4th quarter worth about $42,000. Ridgewood Investments LLC purchased a new position in NIO in the second quarter valued at approximately $25,000. HighPoint Advisor Group LLC purchased a new position in NIO in the fourth quarter valued at approximately $93,000. Sound Income Strategies LLC lifted its position in shares of NIO by 3,333.3% during the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock worth $46,000 after buying an additional 10,000 shares during the last quarter. Finally, Perigon Wealth Management LLC acquired a new position in shares of NIO in the 1st quarter valued at $51,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.