NIO (NYSE:NIO) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

NIO (NYSE:NIO) had its price objective decreased by JPMorgan Chase & Co. from $4.50 to $3.70 in a research report sent to investors on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities research analysts have also issued reports about the stock. Zacks Research lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $6.10 price target on shares of NIO in a research note on Friday, September 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a report on Wednesday, July 29th. Sanford C. Bernstein cut their price objective on shares of NIO from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, September 2nd. Finally, Royal Bank Of Canada cut shares of NIO to a “sector perform” rating in a research report on Thursday, September 3rd. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.78.

NIO Stock Performance

NIO stock opened at $3.31 on Monday. The firm has a market capitalization of $8.21 billion, a PE ratio of -12.24 and a beta of 0.92. NIO has a one year low of $3.22 and a one year high of $7.54. The stock’s 50 day moving average price is $3.70 and its 200 day moving average price is $4.90. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.89 and a current ratio of 1.02.

NIO (NYSE:NIO) last issued its quarterly earnings data on Saturday, August 15th. The company reported $0.00 earnings per share (EPS) for the quarter. The company had revenue of $4.73 billion during the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. As a group, sell-side analysts expect that NIO will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew 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 worth $85,800,000 after buying an additional 7,079,903 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of NIO by 651.5% in the second quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock worth $8,051,000 after buying an additional 1,387,656 shares during the last quarter. Renaissance Technologies LLC increased 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 during the last quarter. Assenagon Asset Management S.A. acquired a new stake in NIO in the second quarter valued at $19,008,000. Finally, ABC Arbitrage SA acquired a new stake in NIO in the first quarter valued at $4,043,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Company Profile

NIO Inc is a Chinese smart electric vehicle manufacturer founded in 2014 and headquartered in Shanghai. The company develops, manufactures and sells premium battery-powered passenger vehicles, including sedans, SUVs and coupés. Its vehicle lineup has included models such as the ET7, ET5, ES6, EL6, EL7 and EC6, along with newer vehicles introduced under the NIO and ONVO brands.

In addition to vehicle sales, NIO provides related services and technologies designed to support electric vehicle ownership.