Nio Inc – (NYSE:NIO – Get Free Report)’s share price gapped down prior to trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $17.00 to $16.00. The stock had previously closed at $10.58, but opened at $10.17. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. NIO shares last traded at $10.21, with a volume of 6,718,339 shares changing hands.
Several other research firms also recently commented on NIO. Sanford C. Bernstein reduced their price target on shares of NIO from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 30th. Mizuho reduced their target price on shares of NIO from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, August 30th. Nomura downgraded shares of NIO from a “buy” rating to a “neutral” rating and decreased their price target for the company from $25.80 to $7.50 in a research note on Monday, June 12th. CLSA dropped their price objective on NIO from $18.00 to $14.00 in a research note on Thursday, August 31st. Finally, Bank of America decreased their target price on NIO from $16.20 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 30th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.68.
Hedge Funds Weigh In On NIO
NIO Stock Down 4.7 %
The company has a quick ratio of 1.12, a current ratio of 1.00 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average price is $11.65 and its 200 day moving average price is $9.72. The firm has a market capitalization of $17.33 billion, a price-to-earnings ratio of -5.60 and a beta of 2.08.
NIO (NYSE:NIO – Get Free Report) last announced its quarterly earnings data on Tuesday, August 29th. The company reported ($3.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.96) by ($0.32). NIO had a negative net margin of 42.97% and a negative return on equity of 94.92%. The firm had revenue of $8.77 billion during the quarter, compared to analyst estimates of $9.16 billion. During the same period in the prior year, the company posted ($0.25) earnings per share. The firm’s revenue for the quarter was down 14.8% on a year-over-year basis. As a group, research analysts forecast that Nio Inc – will post -1.51 earnings per share for the current fiscal year.
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.
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