NIO Inc. (NYSE:NIO) Stock Has Average Target Price of $5.87

Shares of NIO Inc. (NYSE:NIO) have been given a consensus rating of “Hold” by the fifteen analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $5.87.

A number of research firms have issued reports on NIO. Zacks Research cut NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a research note on Wednesday, July 29th. Sanford C. Bernstein cut their price target on shares of NIO from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Wednesday, September 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $6.10 target price on shares of NIO in a research note on Friday, September 4th. Finally, Freedom Broker downgraded NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd.

NIO Trading Down 4.6%

Shares of NYSE:NIO opened at $3.40 on Monday. NIO has a one year low of $3.36 and a one year high of $7.54. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.02 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $3.94 and a 200 day simple moving average of $4.97.

NIO (NYSE:NIO) last announced its quarterly earnings results on Saturday, August 15th. The company reported $0.00 EPS for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%. The firm had revenue of $4.73 billion for the quarter. As a group, research analysts anticipate that NIO will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its stake in shares of NIO by 70.2% in the first quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock worth $87,146,000 after buying an additional 5,962,731 shares in the last quarter. Bank of America Corp DE increased its position in shares of NIO by 99.0% during the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock valued at $85,800,000 after acquiring an additional 7,079,903 shares in the last quarter. SG Americas Securities LLC increased its position in shares of NIO by 67.2% during the first quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company’s stock valued at $30,314,000 after acquiring an additional 2,020,754 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in NIO in the 2nd quarter worth approximately $19,008,000. Finally, Hsbc Holdings PLC raised its holdings in NIO by 651.5% in the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock worth $8,051,000 after acquiring an additional 1,387,656 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

About NIO

NIO Inc is a Chinese technology and electric vehicle company headquartered in Shanghai. Founded in 2014, the company designs, develops and sells smart electric vehicles, including SUVs, sedans and other passenger vehicles. Its product portfolio has included models such as the ES6, ES7, ES8, ET5, ET5T and ET7, with model names varying by market.

In addition to vehicle sales, NIO provides related services and technologies, including battery-swapping stations, charging services, mobile charging, digital connectivity and driver-assistance features.