NIO (NYSE:NIO) Upgraded at Macquarie

Macquarie upgraded shares of NIO (NYSE:NIO) from a neutral rating to an outperform rating in a report released on Monday morning, Marketbeat reports. The brokerage currently has $6.60 price objective on the stock.

Several other research firms also recently weighed in on NIO. Wolfe Research began coverage on NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Bank of America raised their price target on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Citigroup reduced their price target 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. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.11.

NIO Stock Performance

NIO stock opened at $5.35 on Monday. The company has a market cap of $9.19 billion, a PE ratio of -3.16 and a beta of 1.86. NIO has a twelve month low of $3.61 and a twelve month high of $9.57. The company’s 50-day moving average price is $5.36 and its 200-day moving average price is $4.86. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last released its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting analysts’ consensus estimates of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The firm had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same period in the previous year, the company earned ($0.51) EPS. The firm’s revenue for the quarter was up 98.9% compared to the same quarter last year. On average, equities research analysts forecast that NIO will post -1.37 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NIO by 23.4% during 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 acquiring an additional 439,474 shares during the period. SG Americas Securities LLC increased its holdings in NIO by 64.6% during the 1st quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock valued at $8,530,000 after acquiring an additional 744,067 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in NIO by 2.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock valued at $371,000 after buying an additional 2,000 shares during the last quarter. SIH Partners LLLP increased its position in NIO by 207.2% during the 1st quarter. SIH Partners LLLP now owns 325,220 shares of the company’s stock worth $1,463,000 after purchasing an additional 219,350 shares in the last quarter. Finally, Redwood Wealth Management Group LLC boosted its position in NIO by 6.9% during the first quarter. Redwood Wealth Management Group LLC now owns 53,632 shares of the company’s stock worth $241,000 after acquiring an additional 3,450 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.