Nio Inc – (NYSE:NIO) Given Average Recommendation of “Reduce” by Brokerages

Shares of Nio Inc – (NYSE:NIO) have received a consensus rating of “Reduce” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Two research 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 brokerages that have issued a report on the stock in the last year is $8.43.

A number of brokerages recently commented on NIO. JPMorgan Chase & Co. decreased their price objective on NIO from $5.00 to $4.80 and set an “underweight” rating for the company in a research note on Wednesday, March 6th. The Goldman Sachs Group began coverage on NIO in a research note on Wednesday, January 3rd. They set a “neutral” rating for the company. UBS Group decreased their price objective on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Mizuho reaffirmed a “neutral” rating and set a $5.50 price objective on shares of NIO in a research note on Monday, March 25th. Finally, Bank of America reduced their target price on NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a report on Wednesday, March 6th.

NIO Price Performance

NIO stock opened at $5.27 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.22 and a quick ratio of 1.13. The company has a market capitalization of $9.05 billion, a PE ratio of -3.01 and a beta of 1.93. NIO has a one year low of $3.61 and a one year high of $16.18. The business has a 50 day simple moving average of $4.92 and a 200 day simple moving average of $6.46.

NIO (NYSE:NIO) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share 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 business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $18.16 billion. During the same period in the prior year, the business earned ($0.51) earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts forecast that NIO will post -1.26 EPS for the current fiscal year.

Institutional Trading of NIO

A number of institutional investors have recently modified their holdings of NIO. AE Wealth Management LLC lifted its holdings in shares of NIO by 91.2% in the third quarter. AE Wealth Management LLC now owns 69,312 shares of the company’s stock valued at $627,000 after purchasing an additional 33,057 shares in the last quarter. DnB Asset Management AS increased its position in shares of NIO by 130.8% in the third quarter. DnB Asset Management AS now owns 153,192 shares of the company’s stock valued at $1,385,000 after acquiring an additional 86,814 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of NIO in the third quarter valued at about $102,000. Meridian Wealth Management LLC increased its position in shares of NIO by 503.8% in the third quarter. Meridian Wealth Management LLC now owns 89,849 shares of the company’s stock valued at $812,000 after acquiring an additional 74,968 shares during the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of NIO in the third quarter valued at about $157,000. 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.