Nio Inc – (NYSE:NIO) Receives $5.93 Average PT from Brokerages

Shares of Nio Inc – (NYSE:NIO) have been assigned an average rating of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $5.93.

Several research firms recently weighed in on NIO. Wolfe Research initiated coverage on shares of NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Citigroup reduced their target price 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 upped their price objective for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Finally, Bank of America increased their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th.

NIO Price Performance

NIO opened at $5.93 on Friday. The firm’s fifty day moving average price is $4.45 and its two-hundred day moving average price is $4.68. The company has a market capitalization of $10.19 billion, a price-to-earnings ratio of -3.51 and a beta of 1.82. 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 has a 1 year low of $3.61 and a 1 year high of $9.57.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting analysts’ consensus estimates of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same period last year, the business posted ($0.51) earnings per share. NIO’s revenue was up 98.9% on a year-over-year basis. As a group, analysts anticipate that NIO will post -1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC lifted its stake in NIO by 238.6% during the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after purchasing an additional 4,976,403 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after buying an additional 4,018,659 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 acquiring an additional 235,521 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in NIO by 28.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after acquiring an additional 535,400 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake 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 in the last quarter. 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.