Brokerages Set Nio Inc – (NYSE:NIO) Target Price at $5.03

Shares of Nio Inc – (NYSE:NIO) have been given an average rating of “Hold” by the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $5.03.

NIO has been the subject of a number of recent research reports. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $4.80 to $3.90 in a research note on Monday, November 25th.

NIO Trading Down 4.4 %

Shares of NYSE:NIO opened at $4.51 on Friday. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of -2.98 and a beta of 1.81. NIO has a 12 month low of $3.61 and a 12 month high of $7.71. The company’s fifty day simple moving average is $4.43 and its 200 day simple moving average is $4.87. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last issued its quarterly earnings results on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the firm earned ($2.81) earnings per share. As a group, research analysts forecast that NIO will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

Hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank lifted its position in shares of NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after buying an additional 132,237 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in NIO during the 4th quarter valued at $1,360,000. AlphaStar Capital Management LLC bought a new position in NIO during the fourth quarter worth $537,000. FMR LLC increased its holdings in shares of NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in shares of NIO in the third quarter valued at about $1,327,000. Institutional investors own 48.55% of the company’s stock.

About NIO

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.