NIO Inc. (NIO) – What Are Analysts Thinking About This Stock?

NIO Inc. (NYSE:NIO) has earned an average rating of “Hold” from the fifteen ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $5.78.

NIO has been the topic of a number of recent analyst reports. Freedom Broker cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a report on Tuesday, October 27th. Sanford C. Bernstein lowered their price target on NIO from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, September 2nd. Citigroup reaffirmed a “buy” rating on shares of NIO in a research note on Tuesday, September 1st. Finally, Zacks Research lowered NIO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd.

Institutional Investors Weigh In On NIO

Several large investors have recently added to or reduced their stakes in NIO. Renaissance Technologies LLC grew 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 acquiring an additional 5,962,731 shares in the last quarter. Bank of America Corp DE boosted its holdings in NIO by 99.0% in 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 purchasing an additional 7,079,903 shares during the period. Assenagon Asset Management S.A. acquired a new position in NIO during the 2nd quarter worth $19,008,000. Hsbc Holdings PLC increased its holdings in NIO by 651.5% during the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock worth $8,051,000 after purchasing an additional 1,387,656 shares during the period. Finally, ABC Arbitrage SA acquired a new stake in NIO in the 1st quarter valued at about $4,043,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Stock Performance

NIO stock opened at $3.04 on Friday. The firm has a 50 day simple moving average of $3.46 and a 200-day simple moving average of $4.82. NIO has a 1-year low of $3.02 and a 1-year high of $7.00. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.02 and a quick ratio of 0.89.

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

About NIO

NIO Inc. is a China-based electric vehicle company founded in 2014. The company designs, develops, and sells premium smart electric vehicles, including sedans and sport utility vehicles, primarily under the NIO brand. Alongside its vehicles, NIO offers battery-swapping and charging services, vehicle software and connectivity features, and related ownership services. Its battery-as-a-service offering allows customers to separate battery use from vehicle purchase. NIO serves customers in China and selected European markets.