NIO (NYSE:NIO) Upgraded at Daiwa America

Daiwa America upgraded shares of NIO (NYSE:NIO) to a strong-buy rating in a report published on Monday, Zacks.com reports.

A number of other analysts also recently issued reports on the stock. Wolfe Research assumed coverage on shares of NIO in a report on Thursday, September 5th. They issued a peer perform rating on the stock. Citigroup reduced their target price on shares of NIO from $8.50 to $7.00 and set a buy rating on the stock in a report on Wednesday, September 4th. Bank of America boosted their target price on shares of NIO from $5.00 to $5.30 and gave the stock a neutral rating in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a neutral rating to an overweight rating and boosted their target price for the stock from $5.30 to $8.00 in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $5.93.

NIO Stock Performance

Shares of NYSE NIO opened at $6.72 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The company has a market cap of $11.54 billion, a P/E ratio of -3.97 and a beta of 1.82. The firm’s fifty day moving average is $4.73 and its two-hundred day moving average is $4.73. NIO has a 52-week low of $3.61 and a 52-week high of $9.57.

NIO (NYSE:NIO) last announced its quarterly 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). The company had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. NIO’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.51) EPS. As a group, analysts anticipate that NIO will post -1.37 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

A number of hedge funds have recently added to or reduced their stakes in NIO. Point72 Asset Management L.P. grew its stake in NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after acquiring an additional 4,018,659 shares in the last quarter. Quadrature Capital Ltd bought a new position in NIO in the 4th quarter worth about $12,361,000. Swedbank AB bought a new position in shares of NIO during the first quarter valued at approximately $5,343,000. AMF Tjanstepension AB boosted its stake in shares of NIO by 132.4% during the first quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock valued at $7,030,000 after purchasing an additional 889,900 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of NIO by 64.6% during the first quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock valued at $8,530,000 after purchasing an additional 744,067 shares in the last quarter. 48.55% of the stock is currently owned by 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.