NIO (NYSE:NIO) Price Target Cut to $15.00 by Analysts at Bank of America

NIO (NYSE:NIO) had its price objective lowered by Bank of America from $16.20 to $15.00 in a research report report published on Wednesday, FlyOnTheWall reports.

A number of other equities research analysts have also commented on NIO. Sanford C. Bernstein decreased their price objective on shares of NIO to $8.00 in a report on Wednesday. UBS Group raised their target price on shares of NIO from $13.00 to $15.00 and gave the company a neutral rating in a research note on Monday, July 31st. Barclays reduced their target price on shares of NIO from $10.00 to $8.00 in a research note on Monday, June 12th. Deutsche Bank Aktiengesellschaft raised their target price on shares of NIO from $13.00 to $17.00 and gave the company a buy rating in a research note on Friday, August 11th. Finally, Citigroup raised their target price on shares of NIO from $13.90 to $19.20 in a research note on Friday, August 4th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $12.66.

NIO Trading Down 2.1 %

Shares of NIO stock opened at $10.66 on Wednesday. The stock has a market capitalization of $18.33 billion, a P/E ratio of -6.93 and a beta of 2.03. The company has a quick ratio of 1.12, a current ratio of 1.28 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $11.42 and a 200 day simple moving average of $9.70. NIO has a 12-month low of $7.00 and a 12-month high of $22.74.

NIO (NYSE:NIO) last announced its earnings results on Tuesday, August 29th. The company reported ($3.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.96) by ($0.32). NIO had a negative return on equity of 66.25% and a negative net margin of 35.03%. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $9.16 billion. During the same quarter last year, the business earned ($0.25) EPS. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year. Research analysts expect that NIO will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of NIO

A number of hedge funds have recently modified their holdings of NIO. WealthPLAN Partners LLC acquired a new stake in shares of NIO in the 1st quarter valued at approximately $27,000. AlphaMark Advisors LLC raised its position in shares of NIO by 1,182.4% in the 1st quarter. AlphaMark Advisors LLC now owns 3,052 shares of the company’s stock valued at $32,000 after acquiring an additional 2,814 shares during the period. Ameritas Advisory Services LLC acquired a new stake in NIO during the 1st quarter worth approximately $33,000. Parallel Advisors LLC raised its holdings in NIO by 30.8% during the 2nd quarter. Parallel Advisors LLC now owns 3,453 shares of the company’s stock worth $33,000 after buying an additional 814 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in NIO during the 4th quarter worth approximately $33,000. 42.32% of the stock is currently 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.