NIO (NYSE:NIO) Rating Lowered to “Sell” at The Goldman Sachs Group

NIO (NYSE:NIO) was downgraded by equities research analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a report released on Monday,Briefing.com Automated Import reports. They presently have a $3.90 price target on the stock, down from their prior price target of $4.80. The Goldman Sachs Group’s target price indicates a potential downside of 19.42% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Wolfe Research began coverage on shares of NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Citigroup reduced their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Bank of America lifted their price objective on 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 increased their price objective for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Performance

NYSE:NIO opened at $4.84 on Monday. NIO has a twelve month low of $3.61 and a twelve month high of $9.57. The company has a market capitalization of $8.32 billion, a P/E ratio of -3.21 and a beta of 1.91. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $5.49 and a two-hundred day moving average price of $4.90.

NIO (NYSE:NIO) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company’s quarterly revenue 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, research analysts expect that NIO will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in NIO during the 2nd quarter valued at $1,076,000. International Assets Investment Management LLC raised 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 valued at $2,621,000 after purchasing an additional 334,723 shares in the last quarter. Signaturefd LLC lifted its holdings in NIO by 16.9% in 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 during the period. Bank of New York Mellon Corp increased its stake in NIO by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after buying an additional 343,910 shares during the period. Finally, SIH Partners LLLP lifted its stake in shares of NIO by 104.0% in the 2nd quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock worth $2,760,000 after acquiring an additional 338,320 shares during the period. Institutional investors and hedge funds 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.