NIO (NYSE:NIO) Price Target Raised to $4.80 at JPMorgan Chase & Co.

NIO (NYSE:NIO) had its price objective boosted by JPMorgan Chase & Co. from $4.10 to $4.80 in a research note published on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group upgraded shares of NIO from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $3.70 to $3.80 in a report on Tuesday, June 17th. Morgan Stanley restated a “buy” rating on shares of NIO in a report on Monday, July 14th. Mizuho reduced their target price 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. Citigroup restated a “buy” rating on shares of NIO in a research report on Monday, April 28th. Finally, Barclays dropped their target price on shares of NIO from $4.00 to $3.00 and set an “underweight” rating for the company in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.76.

NIO Trading Down 3.6%

Shares of NYSE NIO opened at $4.46 on Thursday. The firm has a 50 day moving average price of $4.06 and a two-hundred day moving average price of $4.08. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.69 and a current ratio of 0.84. NIO has a 52-week low of $3.02 and a 52-week high of $7.71. The stock has a market cap of $9.30 billion, a P/E ratio of -2.75 and a beta of 1.42.

NIO (NYSE:NIO) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.23). The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.39) earnings per share. As a group, equities analysts forecast that NIO will post -1.43 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Xponance Inc. purchased a new position in NIO during the 1st quarter valued at $39,000. Blueshift Asset Management LLC bought a new position in NIO during the 1st quarter valued at about $43,000. Hedeker Wealth LLC bought a new position in shares of NIO in the 2nd quarter worth approximately $43,000. Annex Advisory Services LLC bought a new position in shares of NIO in the 1st quarter worth approximately $47,000. Finally, May Hill Capital LLC purchased a new stake in NIO in the 1st quarter worth approximately $48,000. 48.55% of the stock is currently 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.