NIO (NYSE:NIO) Cut to “Sell” at The Goldman Sachs Group

The Goldman Sachs Group lowered shares of NIO (NYSE:NIO) from a neutral rating to a sell rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The Goldman Sachs Group currently has $3.90 target price on the stock, down from their previous target price of $4.80.

Other analysts also recently issued reports about the company. Wolfe Research assumed coverage on NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Daiwa America raised NIO to a “strong-buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and raised their target price for the company from $5.30 to $8.00 in a report on Friday, September 6th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, Citigroup lowered their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, NIO has an average rating of “Hold” and a consensus price target of $5.71.

NIO Stock Performance

Shares of NYSE:NIO opened at $4.38 on Monday. The business has a 50-day moving average of $5.45 and a two-hundred day moving average of $4.89. The firm has a market capitalization of $7.53 billion, a PE ratio of -2.91 and a beta of 1.91. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. NIO has a 12 month low of $3.61 and a 12 month high of $9.57.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NIO. Bayesian Capital Management LP bought a new position in NIO during the 1st quarter worth approximately $185,000. B. Riley Wealth Advisors Inc. raised its position in shares of NIO by 29.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 40,876 shares of the company’s stock valued at $184,000 after acquiring an additional 9,375 shares in the last quarter. California State Teachers Retirement System lifted its stake in NIO by 12.4% during the first quarter. California State Teachers Retirement System now owns 424,836 shares of the company’s stock worth $1,912,000 after purchasing an additional 46,987 shares during the last quarter. Tidal Investments LLC boosted its holdings in NIO by 33.2% in the first quarter. Tidal Investments LLC now owns 254,730 shares of the company’s stock worth $1,146,000 after purchasing an additional 63,491 shares during the period. Finally, Swedbank AB bought a new stake in NIO during the first quarter valued at $5,343,000. 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.