NIO (NYSE:NIO) Downgraded to “Sell” Rating by The Goldman Sachs Group

The Goldman Sachs Group cut shares of NIO (NYSE:NIO) from a neutral rating to a sell rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The Goldman Sachs Group currently has $3.90 price objective on the stock, down from their previous price objective of $4.80.

Other equities research analysts have also recently issued reports about the company. Wolfe Research initiated coverage on NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Bank of America boosted their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Citigroup dropped their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.71.

NIO Stock Performance

NIO stock opened at $4.67 on Monday. The company has a market cap of $8.03 billion, a P/E ratio of -3.09 and a beta of 1.91. 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 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock’s fifty day moving average price is $5.49 and its 200-day moving average price is $4.90.

NIO (NYSE:NIO) last released its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting the consensus estimate of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. NIO’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.51) earnings per share. On average, equities analysts forecast that NIO will post -1.39 earnings per share for the current year.

Institutional Trading of NIO

A number of hedge funds have recently bought and sold shares of NIO. Bayesian Capital Management LP purchased a new stake in NIO during the first quarter worth $185,000. B. Riley Wealth Advisors Inc. increased its position in shares of NIO by 29.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 40,876 shares of the company’s stock worth $184,000 after purchasing an additional 9,375 shares in the last quarter. California State Teachers Retirement System increased its position in shares of NIO by 12.4% during the first quarter. California State Teachers Retirement System now owns 424,836 shares of the company’s stock worth $1,912,000 after purchasing an additional 46,987 shares in the last quarter. Tidal Investments LLC increased its position in shares of NIO by 33.2% during the first quarter. Tidal Investments LLC now owns 254,730 shares of the company’s stock worth $1,146,000 after purchasing an additional 63,491 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of NIO during the first quarter worth $5,343,000. Hedge funds and other 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.