Shares of Nio Inc – (NYSE:NIO) have been assigned an average recommendation of “Hold” from the ten analysts that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.14.
Several analysts recently issued reports on the company. Morgan Stanley lowered NIO from an “overweight” rating to an “equal” rating and cut their price objective for the stock from $3.50 to $2.40 in a report on Thursday, September 26th. Bank of America set a $2.50 price objective on NIO and gave the stock a “sell” rating in a report on Tuesday, September 24th. Wolfe Research lowered NIO from an “outperform” rating to a “peer perform” rating and set a $1.90 price objective for the company. in a report on Thursday, September 26th. Zacks Investment Research lowered NIO from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, China Renaissance Securities assumed coverage on NIO in a report on Thursday, September 26th. They set a “hold” rating and a $2.00 price objective for the company.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Aries Wealth Management bought a new position in NIO during the second quarter valued at about $33,000. Sigma Planning Corp bought a new position in NIO during the second quarter valued at about $27,000. World Asset Management Inc bought a new position in NIO during the second quarter valued at about $28,000. United Capital Financial Advisers LLC raised its holdings in NIO by 32.5% during the second quarter. United Capital Financial Advisers LLC now owns 13,922 shares of the company’s stock valued at $36,000 after buying an additional 3,416 shares in the last quarter. Finally, NEXT Financial Group Inc raised its holdings in NIO by 50.0% during the second quarter. NEXT Financial Group Inc now owns 15,000 shares of the company’s stock valued at $38,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 36.47% of the company’s stock.
NIO opened at $1.94 on Wednesday. The stock has a fifty day moving average of $1.68 and a 200-day moving average of $2.95. The firm has a market capitalization of $2.03 billion, a P/E ratio of -0.19 and a beta of 1.95. NIO has a 12-month low of $1.19 and a 12-month high of $10.64. The company has a quick ratio of 0.80, a current ratio of 0.97 and a debt-to-equity ratio of 3.73.
NIO (NYSE:NIO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported ($3.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($2.65). NIO had a negative return on equity of 107.06% and a negative net margin of 152.51%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the business posted ($57.82) earnings per share. NIO’s revenue was up 3180.2% on a year-over-year basis. On average, analysts expect that NIO will post -1.61 earnings per share for the current fiscal 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.
Recommended Story: Why is a lock-up period needed for an IPO?
Receive News & Ratings for NIO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIO and related companies with MarketBeat.com's FREE daily email newsletter.