NIO Inc. (NYSE:NIO) Receives Average Recommendation of “Hold” from Analysts

NIO Inc. (NYSE:NIO) has been given an average rating of “Hold” by the thirteen analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $4.74.

Several equities analysts have recently commented on NIO shares. Cfra Research upgraded NIO to a “hold” rating in a research note on Friday, March 21st. The Goldman Sachs Group raised NIO from a “sell” rating to a “neutral” rating and boosted their price target for the company from $3.70 to $3.80 in a report on Tuesday, June 17th. Citigroup reissued a “buy” rating on shares of NIO in a report on Monday, April 28th. Morgan Stanley reaffirmed a “buy” rating on shares of NIO in a research note on Monday. Finally, Mizuho reduced their target price on NIO from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Tuesday, June 3rd.

Institutional Trading of NIO

Several large investors have recently added to or reduced their stakes in NIO. Raymond James Financial Inc. acquired a new position in shares of NIO in the 4th quarter valued at $1,776,000. Avantax Advisory Services Inc. raised its position in NIO by 23.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 32,637 shares of the company’s stock valued at $142,000 after purchasing an additional 6,239 shares in the last quarter. Corient Private Wealth LLC raised its position in NIO by 86.2% in the 4th quarter. Corient Private Wealth LLC now owns 33,689 shares of the company’s stock valued at $147,000 after purchasing an additional 15,600 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of NIO in the 4th quarter valued at about $204,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of NIO by 26.2% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 120,421 shares of the company’s stock valued at $525,000 after acquiring an additional 25,000 shares during the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Trading Down 0.2%

NIO stock opened at $4.39 on Friday. The firm has a fifty day moving average price of $3.72 and a 200 day moving average price of $4.02. NIO has a fifty-two week low of $3.02 and a fifty-two week high of $7.71. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.69 and a current ratio of 0.84. The firm has a market cap of $9.16 billion, a PE ratio of -2.71 and a beta of 1.55.

NIO (NYSE:NIO) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.23). NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $12.46 billion. During the same quarter in the prior year, the business earned ($2.39) earnings per share. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. Sell-side analysts anticipate that NIO will post -1.43 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.