NIO (NYSE:NIO) Upgraded to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of NIO (NYSE:NIO) from a neutral rating to an overweight rating in a report published on Friday, Marketbeat reports. JPMorgan Chase & Co. currently has $8.00 price target on the stock, up from their previous price target of $5.30.

Other research analysts have also recently issued research reports about the company. Bank of America lifted their target price on NIO from $5.00 to $5.30 and gave the company a neutral rating in a research report on Thursday. Citigroup decreased their target price on NIO from $8.50 to $7.00 and set a buy rating on the stock in a research report on Wednesday. Finally, Wolfe Research initiated coverage on NIO in a research report on Thursday. They issued a peer perform rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $5.93.

NIO Stock Up 3.7 %

Shares of NYSE NIO opened at $5.03 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. NIO has a 52 week low of $3.61 and a 52 week high of $10.88. The stock has a market capitalization of $8.65 billion, a P/E ratio of -2.98 and a beta of 1.82. The stock’s fifty day moving average is $4.27 and its 200 day moving average is $4.71.

NIO (NYSE:NIO) last released its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.21). NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. The firm had revenue of $17.45 billion for the quarter, compared to analysts’ expectations of $17.49 billion. During the same quarter in the previous year, the business posted ($0.51) earnings per share. The business’s revenue for the quarter was up 98.9% on a year-over-year basis. Sell-side analysts forecast that NIO will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of NIO

A number of hedge funds have recently made changes to their positions in NIO. Ridgewood Investments LLC acquired a new position in shares of NIO in the second quarter worth approximately $25,000. Newbridge Financial Services Group Inc. lifted its stake in shares of NIO by 272.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after acquiring an additional 6,875 shares during the period. Principal Securities Inc. acquired a new position in shares of NIO in the fourth quarter worth approximately $42,000. BSW Wealth Partners acquired a new position in shares of NIO in the first quarter worth approximately $46,000. Finally, Sound Income Strategies LLC lifted its stake in shares of NIO by 3,333.3% in the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock worth $46,000 after acquiring an additional 10,000 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

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.