NIO (NYSE:NIO) Upgraded to “Neutral” by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of NIO (NYSE:NIO) from an underweight rating to a neutral rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has $5.40 price target on the stock, up from their previous price target of $4.80.

A number of other equities research analysts have also recently commented on the stock. Mizuho reaffirmed a neutral rating and issued a $5.50 price target on shares of NIO in a report on Monday, March 25th. Sanford C. Bernstein reduced their price target on shares of NIO from $7.50 to $5.50 and set a market perform rating for the company in a research report on Thursday, March 7th. Bank of America reduced their price target on shares of NIO from $7.50 to $6.50 and set a neutral rating for the company in a research report on Wednesday, March 6th. Barclays reiterated an underweight rating and issued a $4.00 target price (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Finally, Jefferies Financial Group lowered their price target on shares of NIO from $8.30 to $5.90 and set a hold rating for the company in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $8.48.

NIO Trading Up 0.2 %

NIO opened at $5.27 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22. NIO has a fifty-two week low of $3.61 and a fifty-two week high of $16.18. The company’s 50-day moving average is $4.86 and its 200 day moving average is $6.27.

NIO (NYSE:NIO) last posted its earnings results on Tuesday, March 5th. The company reported ($2.81) EPS for the quarter, missing the consensus estimate of ($2.39) by ($0.42). NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $18.16 billion. During the same period in the prior year, the business earned ($0.51) EPS. NIO’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that NIO will post -1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Several institutional investors have recently made changes to their positions in the company. Tidal Investments LLC lifted its holdings in shares of NIO by 33.2% in the 1st quarter. Tidal Investments LLC now owns 254,730 shares of the company’s stock worth $1,146,000 after acquiring an additional 63,491 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of NIO by 12.4% in the 1st quarter. California State Teachers Retirement System now owns 424,836 shares of the company’s stock worth $1,912,000 after acquiring an additional 46,987 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of NIO by 29.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 40,876 shares of the company’s stock worth $184,000 after acquiring an additional 9,375 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of NIO in the 1st quarter worth about $185,000. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of NIO by 13.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after acquiring an additional 2,038 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

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.