Brokerages Set Nio Inc – (NYSE:NIO) Target Price at $8.43

Shares of Nio Inc – (NYSE:NIO) have been given a consensus rating of “Reduce” by the eleven research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $8.43.

NIO has been the topic of several analyst reports. Mizuho reaffirmed a “neutral” rating and set a $5.50 price target on shares of NIO in a research report on Monday, March 25th. The Goldman Sachs Group assumed coverage on NIO in a report on Wednesday, January 3rd. They set a “neutral” rating for the company. UBS Group reduced their price objective on shares of NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a report on Thursday, March 14th. Jefferies Financial Group lowered their target price on shares of NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a research note on Wednesday, March 6th.

NIO Stock Performance

NYSE NIO opened at $4.60 on Thursday. NIO has a fifty-two week low of $3.61 and a fifty-two week high of $16.18. The firm has a market capitalization of $7.91 billion, a P/E ratio of -2.63 and a beta of 1.93. The stock’s fifty day moving average is $4.96 and its two-hundred day moving average is $6.49. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22.

NIO (NYSE:NIO) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $18.16 billion. During the same period in the prior year, the company posted ($0.51) EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, research analysts anticipate that NIO will post -1.26 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Bfsg LLC acquired a new stake in shares of NIO in the fourth quarter valued at $33,000. Rakuten Securities Inc. acquired a new stake in NIO in the 4th quarter valued at about $38,000. Newbridge Financial Services Group Inc. boosted its stake in shares of NIO by 272.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after buying an additional 6,875 shares during the period. Principal Securities Inc. purchased a new stake in shares of NIO during the fourth quarter worth approximately $42,000. Finally, Peoples Bank KS purchased a new stake in shares of NIO during the third quarter worth approximately $46,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.