NIO (NYSE:NIO) Shares Gap Up After Analyst Upgrade

Nio Inc – (NYSE:NIO) gapped up prior to trading on Thursday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $4.24, but opened at $4.41. JPMorgan Chase & Co. now has a $8.00 price target on the stock, up from their previous price target of $5.30. NIO shares last traded at $4.50, with a volume of 21,181,309 shares trading hands.

NIO has been the topic of a number of other reports. Bank of America lifted their price target on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday. Wolfe Research started coverage on shares of NIO in a research note on Thursday. They issued a “peer perform” rating on the stock. Finally, Citigroup decreased their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, NIO has a consensus rating of “Hold” and a consensus target price of $5.93.

Institutional Investors Weigh In On NIO

A number of large investors have recently added to or reduced their stakes in NIO. Hsbc Holdings PLC boosted its position in NIO by 238.6% in the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock valued at $64,070,000 after buying an additional 4,976,403 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after purchasing an additional 4,018,659 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in NIO during the 4th quarter valued at approximately $12,361,000. Swedbank AB purchased a new stake in NIO during the 1st quarter worth approximately $5,343,000. Finally, Norges Bank purchased a new stake in NIO during the 4th quarter worth approximately $9,652,000. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Stock Performance

The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of -2.98 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. The stock has a 50-day simple moving average of $4.27 and a 200-day simple moving average of $4.71.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($2.21). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The business had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. The business’s revenue was up 98.9% compared to the same quarter last year. On average, analysts anticipate that Nio Inc – will post -1.43 earnings per share for the current year.

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.