Analysts Set Nio Inc – (NYSE:NIO) Target Price at $5.93

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

A number of research firms have commented on NIO. Citigroup decreased 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, September 4th. Wolfe Research initiated coverage on shares of NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and raised their target price for the company from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Bank of America increased their price target on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th.

NIO Stock Performance

Shares of NIO opened at $6.52 on Friday. 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 has a 52-week low of $3.61 and a 52-week high of $9.57. The company has a 50-day simple moving average of $4.54 and a 200-day simple moving average of $4.68. The company has a market capitalization of $11.21 billion, a PE ratio of -3.86 and a beta of 1.82.

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

Institutional Trading of NIO

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in shares of NIO by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after purchasing an additional 343,910 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 worth $10,430,000 after acquiring an additional 439,474 shares during the period. Electron Capital Partners LLC boosted its position in shares of NIO by 5.6% in the fourth quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock worth $40,180,000 after acquiring an additional 235,521 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in NIO by 127.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company’s stock valued at $1,704,000 after purchasing an additional 211,936 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in NIO by 28.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after purchasing an additional 535,400 shares during the period. 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.