Nio Inc – (NYSE:NIO) Receives $7.55 Consensus Target Price from Brokerages

Nio Inc – (NYSE:NIO) has received a consensus rating of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $7.55.

A number of research firms have recently commented on NIO. Bank of America boosted their price target on shares of NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. Citigroup decreased their target price on NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research note on Thursday, June 6th. JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $4.80 to $5.40 in a research note on Wednesday, May 15th. Finally, Macquarie started coverage on shares of NIO in a research report on Monday, April 15th. They set a “neutral” rating and a $5.00 price objective on the stock.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently added to or reduced their stakes in NIO. Hsbc Holdings PLC boosted its stake in NIO by 238.6% during the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after acquiring an additional 4,976,403 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of NIO in the 4th quarter worth approximately $12,361,000. Swedbank AB bought a new position in NIO during the 1st quarter valued at approximately $5,343,000. Norges Bank purchased a new position in NIO during the fourth quarter valued at $9,652,000. Finally, AMF Tjanstepension AB boosted its holdings in NIO by 132.4% in the first quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock worth $7,030,000 after acquiring an additional 889,900 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

NIO Price Performance

NYSE NIO traded down $0.04 during trading hours on Friday, hitting $3.78. The company had a trading volume of 25,866,108 shares, compared to its average volume of 52,729,641. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of -2.24 and a beta of 1.86. NIO has a 52 week low of $3.61 and a 52 week high of $13.97. The firm has a 50 day simple moving average of $4.48 and a 200 day simple moving average of $4.97.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. Equities research analysts expect that NIO will post -1.41 earnings per share for the current year.

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.