Nio Inc – (NYSE:NIO) Given Average Rating of “Hold” by Brokerages

Nio Inc – (NYSE:NIO) has received a consensus recommendation of “Hold” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $6.90.

A number of research firms have issued reports on NIO. Citigroup decreased their price target on shares of NIO from $10.40 to $8.50 and set a “buy” rating for the company in a report on Thursday, June 6th. Bank of America raised their target price on NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Finally, JPMorgan Chase & Co. upgraded NIO from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $4.80 to $5.40 in a research note on Wednesday, May 15th.

NIO Stock Up 2.8 %

Shares of NIO stock opened at $4.16 on Wednesday. The stock’s fifty day moving average price is $4.25 and its 200 day moving average price is $4.72. NIO has a 1-year low of $3.61 and a 1-year high of $11.18. The company has a market cap of $7.14 billion, a price-to-earnings ratio of -2.46 and a beta of 1.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.48 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. On average, research analysts expect that NIO will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Ridgewood Investments LLC acquired a new position in shares of NIO in the 2nd quarter valued at about $25,000. Newbridge Financial Services Group Inc. lifted its holdings in NIO by 272.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after acquiring an additional 6,875 shares during the period. Principal Securities Inc. purchased a new stake in NIO in the 4th quarter worth approximately $42,000. BSW Wealth Partners purchased a new stake in NIO in the 1st quarter worth approximately $46,000. Finally, Sound Income Strategies LLC grew its stake in shares of NIO by 3,333.3% during the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock worth $46,000 after purchasing an additional 10,000 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

About NIO

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.