Macquarie Downgrades NIO (NYSE:NIO) to Neutral

Macquarie lowered shares of NIO (NYSE:NIO) from an outperform rating to a neutral rating in a report released on Wednesday morning, Marketbeat.com reports. The firm currently has $4.80 price objective on the stock, down from their prior price objective of $6.60.

Several other analysts also recently issued reports on NIO. Wolfe Research began coverage on NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and increased their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. Daiwa America upgraded NIO to a “strong-buy” rating in a research note on Monday, September 30th. Citigroup lowered their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, Bank of America raised their target price on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.91.

NIO Trading Up 3.0 %

NIO stock opened at $4.84 on Wednesday. The company has a market cap of $8.32 billion, a price-to-earnings ratio of -3.21 and a beta of 1.91. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The business has a fifty day simple moving average of $5.49 and a 200-day simple moving average of $4.90. NIO has a 52 week low of $3.61 and a 52 week high of $9.57.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the prior year, the firm earned ($0.51) EPS. The firm’s quarterly revenue was up 98.9% compared to the same quarter last year. On average, equities research analysts expect that NIO will post -1.39 EPS for the current year.

Hedge Funds Weigh In On NIO

Large investors have recently modified their holdings of the stock. Westwood Holdings Group Inc. lifted its holdings in NIO by 13.9% in the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after acquiring an additional 2,038 shares during the last quarter. Ballentine Partners LLC lifted its holdings in NIO by 11.5% in the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock worth $160,000 after acquiring an additional 2,482 shares during the last quarter. Atomi Financial Group Inc. lifted its holdings in NIO by 15.5% in the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after acquiring an additional 2,588 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after acquiring an additional 2,651 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in NIO by 4.8% in the second quarter. Assenagon Asset Management S.A. now owns 63,093 shares of the company’s stock worth $262,000 after acquiring an additional 2,915 shares during the last quarter. 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.