NIO (NYSE:NIO) Now Covered by Wolfe Research

Research analysts at Wolfe Research assumed coverage on shares of NIO (NYSE:NIO) in a research note issued on Thursday, Marketbeat reports. The firm set a “peer perform” rating on the stock.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and increased their target price for the company from $4.80 to $5.40 in a research note on Wednesday, May 15th. Bank of America raised their price objective on NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Finally, Citigroup cut their target price on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.93.

NIO Stock Performance

Shares of NYSE NIO opened at $5.03 on Thursday. NIO has a 1 year low of $3.61 and a 1 year high of $10.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. The stock has a fifty day moving average price of $4.27 and a two-hundred day moving average price of $4.71. The firm has a market cap of $8.65 billion, a P/E ratio of -2.98 and a beta of 1.82.

NIO (NYSE:NIO) last announced 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). NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. The business had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same quarter last year, the business posted ($0.51) earnings per share. The company’s quarterly revenue was up 98.9% on a year-over-year basis. Research analysts forecast that NIO will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in NIO by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after acquiring an additional 439,474 shares in the last quarter. Electron Capital Partners LLC grew its position in 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 purchasing an additional 235,521 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in 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 during the period. CANADA LIFE ASSURANCE Co lifted its position in 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 in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in NIO in the 1st quarter worth approximately $448,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.