Macquarie Downgrades NIO (NYSE:NIO) to Neutral

NIO (NYSE:NIO) was downgraded by equities research analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. They presently have a $4.80 price target on the stock, down from their prior price target of $6.60. Macquarie’s target price suggests a potential upside of 1.82% from the company’s previous close.

A number of other research analysts also recently issued reports on NIO. Bank of America boosted their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Citigroup decreased 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. Wolfe Research assumed coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, NIO has a consensus rating of “Hold” and an average target price of $5.91.

NIO Stock Performance

NIO opened at $4.71 on Wednesday. NIO has a 12-month low of $3.61 and a 12-month high of $9.57. The company has a market cap of $8.10 billion, a price-to-earnings ratio of -3.11 and a beta of 1.91. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $5.52 and its 200 day moving average is $4.91.

NIO (NYSE:NIO) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The company’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.51) EPS. On average, equities research analysts predict that NIO will post -1.38 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank lifted its position in NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after purchasing an additional 132,237 shares during the last quarter. Main Management ETF Advisors LLC purchased a new position in NIO in the third quarter worth about $1,327,000. XTX Topco Ltd bought a new stake in NIO during the third quarter worth approximately $1,178,000. Quadrature Capital Ltd raised its position in NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after purchasing an additional 538,907 shares during the period. Finally, Hilltop Holdings Inc. purchased a new position in shares of NIO in the 3rd quarter worth approximately $130,000. 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.