NIO (NYSE:NIO) Stock Rating Lowered by The Goldman Sachs Group

NIO (NYSE:NIO) was downgraded by equities research analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued to investors on Monday, Marketbeat.com reports. They currently have a $3.90 price objective on the stock, down from their previous price objective of $4.80. The Goldman Sachs Group’s price target indicates a potential downside of 9.83% from the stock’s previous close.

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

NIO Price Performance

Shares of NIO stock opened at $4.33 on Monday. The firm has a market capitalization of $7.44 billion, a PE ratio of -2.91 and a beta of 1.91. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. NIO has a 12 month low of $3.61 and a 12 month high of $9.57. The business’s 50-day moving average price is $5.48 and its 200-day moving average price is $4.89.

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

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently modified their holdings of the stock. Ridgewood Investments LLC purchased a new position in shares of NIO during the 2nd quarter worth approximately $25,000. Allspring Global Investments Holdings LLC bought a new position in shares of NIO in the 3rd quarter worth about $32,000. Baader Bank Aktiengesellschaft purchased a new position in NIO during the 2nd quarter valued at about $53,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in NIO by 22.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after acquiring an additional 2,651 shares in the last quarter. Finally, Caprock Group LLC purchased a new stake in NIO in the second quarter worth about $63,000. 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.