Nio Inc - (NYSE:NIO) Receives $6.11 Consensus Target Price from Brokerages

Nio Inc - (NYSE:NIO - Get Free Report) has earned an average rating of "Hold" from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $6.11.

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

Hedge Funds Weigh In On NIO

Several institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. raised its stake in NIO by 2.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company's stock valued at $371,000 after acquiring an additional 2,000 shares during the period. Westwood Holdings Group Inc. grew its position in NIO by 13.9% during 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. Ballentine Partners LLC lifted its position in NIO by 11.5% in the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company's stock valued at $160,000 after purchasing an additional 2,482 shares during the last quarter. Atomi Financial Group Inc. boosted its stake in shares of NIO by 15.5% during the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company's stock valued at $129,000 after purchasing an additional 2,588 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of NIO by 22.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company's stock valued at $61,000 after purchasing an additional 2,651 shares during the period. Institutional investors own 48.55% of the company's stock.

NIO Stock Down 0.6 %

NYSE:NIO traded down $0.03 on Monday, hitting $5.06. 50,770,434 shares of the company's stock traded hands, compared to its average volume of 56,662,820. NIO has a 1 year low of $3.61 and a 1 year high of $9.57. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The company has a market cap of $8.70 billion, a PE ratio of -3.34 and a beta of 1.91. The firm has a 50-day moving average price of $5.55 and a 200-day moving average price of $4.93.

NIO (NYSE:NIO - Get Free Report) last announced 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). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The business had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same period last year, the company earned ($0.51) earnings per share. NIO's quarterly revenue was up 98.9% compared to the same quarter last year. Equities analysts anticipate that NIO will post -1.37 EPS for the current fiscal year.

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.