Brokerages Set Nio Inc – (NYSE:NIO) Price Target at $6.11

Shares of Nio Inc – (NYSE:NIO) have been given a consensus recommendation of “Hold” by the twelve research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $6.11.

NIO has been the topic of a number of recent analyst reports. Bank of America increased their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Citigroup cut their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, Wolfe Research started coverage on NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in NIO in the 2nd quarter valued at $1,076,000. International Assets Investment Management LLC increased its stake in shares of NIO by 580.9% during the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after acquiring an additional 334,723 shares during the period. Signaturefd LLC raised its holdings in NIO by 16.9% during the third quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock worth $325,000 after purchasing an additional 7,014 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in NIO by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after purchasing an additional 343,910 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in NIO by 127.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company’s stock valued at $1,704,000 after purchasing an additional 211,936 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Stock Up 1.4 %

NIO stock opened at $4.49 on Monday. NIO has a fifty-two week low of $3.61 and a fifty-two week high of $9.57. The company’s 50 day moving average price is $5.57 and its 200 day moving average price is $4.93. 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 firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of -2.95 and a beta of 1.91.

NIO (NYSE:NIO) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($2.21). The business had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The company’s revenue was up 98.9% on a year-over-year basis. During the same period last year, the business earned ($0.51) EPS. On average, equities research analysts anticipate that NIO will post -1.37 EPS for the current fiscal 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.