Brokerages Set Nio Inc - (NYSE:NIO) Price Target at $5.17

Nio Inc - (NYSE:NIO - Get Free Report) has received a consensus recommendation of "Hold" from the eleven research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.05.

Several research firms have recently commented on NIO. Mizuho decreased their target price on NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. HSBC cut NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Cfra Research upgraded shares of NIO to a "hold" rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th.

Institutional Investors Weigh In On NIO

A number of hedge funds have recently added to or reduced their stakes in NIO. Toronto Dominion Bank boosted its stake in NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock worth $883,000 after acquiring an additional 132,237 shares in the last quarter. Sanctuary Advisors LLC grew its stake in NIO by 63.1% in the third quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company's stock valued at $553,000 after acquiring an additional 32,069 shares during the period. Tidal Investments LLC raised its position in shares of NIO by 2.4% during the third quarter. Tidal Investments LLC now owns 280,140 shares of the company's stock worth $1,871,000 after purchasing an additional 6,545 shares during the period. Garden State Investment Advisory Services LLC bought a new position in shares of NIO in the 3rd quarter worth $374,000. Finally, Principal Financial Group Inc. increased its stake in NIO by 140.2% during the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company's stock valued at $502,000 after purchasing an additional 43,839 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

Remove Ads

NIO Stock Down 3.7 %

Shares of NYSE:NIO traded down $0.14 during midday trading on Thursday, reaching $3.49. 5,683,787 shares of the company were exchanged, compared to its average volume of 57,022,270. The firm has a market cap of $7.27 billion, a PE ratio of -2.31 and a beta of 1.74. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. NIO has a fifty-two week low of $3.02 and a fifty-two week high of $7.71. The stock has a fifty day simple moving average of $4.21 and a two-hundred day simple moving average of $4.64.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. NIO's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.81) EPS. As a group, sell-side analysts forecast that NIO will post -1.43 earnings per share for the current 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.