Analysts Set Nio Inc – (NYSE:NIO) Price Target at $7.55

Nio Inc – (NYSE:NIO) has been given an average recommendation of “Hold” by the eleven research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.90.

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

NIO Price Performance

Shares of NIO opened at $4.04 on Wednesday. The business has a 50-day moving average of $4.26 and a 200-day moving average of $4.75. NIO has a 1 year low of $3.61 and a 1 year high of $11.35. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of -2.39 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, equities research analysts anticipate that NIO will post -1.43 earnings per share for the current year.

Institutional Trading of NIO

Institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in NIO by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after buying an additional 439,474 shares in the last quarter. Electron Capital Partners LLC grew its position in NIO by 5.6% in the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock worth $40,180,000 after purchasing an additional 235,521 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in NIO by 127.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company’s stock valued at $1,704,000 after buying an additional 211,936 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of NIO by 28.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after buying an additional 535,400 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of NIO in the 1st quarter worth approximately $448,000. 48.55% of the stock is owned by hedge funds and other 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.