NIO (NYSE:NIO) Rating Increased to Neutral at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of NIO (NYSE:NIO) from a sell rating to a neutral rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has $3.80 price target on the stock, up from their previous price target of $3.70.

Several other research firms have also commented on NIO. Citigroup reiterated a “buy” rating on shares of NIO in a research note on Monday, April 28th. Barclays decreased their price objective on shares of NIO from $4.00 to $3.00 and set an “underweight” rating for the company in a research note on Wednesday, June 4th. Mizuho decreased their price target on shares of NIO from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Tuesday, June 3rd. Finally, Cfra Research upgraded shares of NIO to a “hold” rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.74.

NIO Trading Down 1.8%

NIO opened at $3.46 on Tuesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.84 and a quick ratio of 0.69. The firm has a market capitalization of $7.21 billion, a PE ratio of -2.13 and a beta of 1.62. NIO has a fifty-two week low of $3.02 and a fifty-two week high of $7.71. The company’s 50-day moving average is $3.79 and its 200 day moving average is $4.16.

NIO (NYSE:NIO) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.23). The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $12.46 billion. NIO had a negative net margin of 35.51% and a negative return on equity of 286.45%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the business posted ($2.39) EPS. As a group, research analysts predict that NIO will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in NIO by 3,966.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock worth $20,255,000 after buying an additional 5,185,565 shares during the period. Advisors Asset Management Inc. boosted its holdings in NIO by 39.1% in the 1st quarter. Advisors Asset Management Inc. now owns 123,467 shares of the company’s stock worth $470,000 after buying an additional 34,678 shares during the period. Rafferty Asset Management LLC boosted its holdings in NIO by 38.9% in the 1st quarter. Rafferty Asset Management LLC now owns 50,109 shares of the company’s stock worth $191,000 after buying an additional 14,028 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in NIO by 49.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 18,441 shares of the company’s stock worth $70,000 after buying an additional 6,078 shares during the period. Finally, Compound Planning Inc. boosted its holdings in NIO by 25.5% in the 1st quarter. Compound Planning Inc. now owns 33,746 shares of the company’s stock worth $129,000 after buying an additional 6,865 shares during the period. 48.55% of the stock is owned by 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.