Wolfe Research Initiates Coverage on NIO (NYSE:NIO)

Wolfe Research began coverage on shares of NIO (NYSE:NIO) in a research report issued on Thursday, StockNewsAPI reports. The firm set a “peer perform” rating on the stock.

Other analysts also recently issued reports about the stock. 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 report on Wednesday. JPMorgan Chase & Co. raised shares of 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. Finally, Bank of America increased their price target on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.75.

NIO Stock Performance

Shares of NIO stock traded up $0.30 during trading hours on Thursday, hitting $4.54. The company’s stock had a trading volume of 43,957,118 shares, compared to its average volume of 50,981,766. The company has a 50 day moving average of $4.24 and a 200 day moving average of $4.72. The stock has a market cap of $7.80 billion, a PE ratio of -2.67 and a beta of 1.82. The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. NIO has a 12-month low of $3.61 and a 12-month high of $10.91.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. On average, sell-side analysts forecast that NIO will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

A number of large investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. acquired a new stake in shares of NIO in the fourth quarter valued at about $42,000. Ridgewood Investments LLC acquired a new stake in shares of NIO in the second quarter valued at about $25,000. Newbridge Financial Services Group Inc. raised its position 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 valued at $42,000 after buying an additional 6,875 shares during the last quarter. Calton & Associates Inc. acquired a new stake in shares of NIO in the fourth quarter valued at about $92,000. Finally, HighPoint Advisor Group LLC acquired a new stake in shares of NIO in the fourth quarter valued at about $93,000. 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.