NIO (NYSE:NIO – Get Free Report) was upgraded by investment analysts at Daiwa America to a “strong-buy” rating in a research note issued on Monday, Zacks.com reports.
Several other equities analysts have also weighed in on NIO. Citigroup dropped their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Bank of America increased their price objective on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Wolfe Research started coverage on shares of NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.93.
Check Out Our Latest Report on NIO
NIO Stock Performance
NIO (NYSE:NIO – Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The firm had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. During the same period in the prior year, the firm posted ($0.51) earnings per share. The company’s quarterly revenue was up 98.9% compared to the same quarter last year. As a group, research analysts anticipate that NIO will post -1.37 EPS for the current year.
Hedge Funds Weigh In On NIO
Several institutional investors and hedge funds have recently modified their holdings of NIO. Ridgewood Investments LLC acquired a new stake in NIO during the second quarter worth about $25,000. HighPoint Advisor Group LLC acquired a new stake in NIO during the fourth quarter worth about $93,000. Sound Income Strategies LLC grew its stake in NIO by 3,333.3% during the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock worth $46,000 after buying an additional 10,000 shares in the last quarter. Perigon Wealth Management LLC acquired a new stake in NIO during the first quarter worth about $51,000. Finally, Edge Wealth Management LLC acquired a new stake in NIO during the first quarter worth about $54,000. 48.55% of the stock is currently 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.
See Also
- Five stocks we like better than NIO
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- Beat the Volatility: Top 3 Low-Beta Stocks to Watch
- How to Calculate Return on Investment (ROI)
- Visa and Mastercard: Top Payment Stocks to Watch After Rate Cuts
- About the Markup Calculator
- When Is the Best Time to Invest in Mutual Funds?
Receive News & Ratings for NIO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIO and related companies with MarketBeat.com's FREE daily email newsletter.