NIO (NYSE:NIO) Earns Peer Perform Rating from Analysts at Wolfe Research

Wolfe Research began coverage on shares of NIO (NYSE:NIO) in a research note published on Thursday morning, Marketbeat Ratings reports. The brokerage issued a peer perform rating on the stock.

Several other analysts have also recently commented on the company. JPMorgan Chase & Co. upgraded NIO from an underweight rating to a neutral rating and increased their target price for the stock from $4.80 to $5.40 in a report on Wednesday, May 15th. Citigroup decreased their price objective on shares of NIO from $8.50 to $7.00 and set a buy rating on the stock in a report on Wednesday. Finally, Bank of America boosted their target price on shares of NIO from $5.90 to $6.00 and gave the stock a neutral rating in a research note on Friday, June 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $5.93.

NIO Stock Up 3.5 %

NIO opened at $5.02 on Thursday. NIO has a twelve month low of $3.61 and a twelve month high of $10.88. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of -2.97 and a beta of 1.82. The firm’s 50-day simple moving average is $4.27 and its 200-day simple moving average is $4.70. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting the consensus estimate of ($2.21). The company had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The company’s revenue was up 98.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.51) earnings per share. Equities research analysts anticipate that NIO will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NIO. Principal Securities Inc. bought a new stake in shares of NIO during the fourth quarter worth approximately $42,000. Ridgewood Investments LLC acquired a new stake in NIO during the 2nd quarter worth $25,000. Newbridge Financial Services Group Inc. raised its position in shares of NIO by 272.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after acquiring an additional 6,875 shares during the last quarter. Calton & Associates Inc. acquired a new position in shares of NIO in the 4th quarter valued at $92,000. Finally, HighPoint Advisor Group LLC bought a new position in shares of NIO in the 4th quarter worth $93,000. Institutional investors own 48.55% of the company’s stock.

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.