NIO (NYSE:NIO) Raised to "Strong-Buy" at Daiwa America

Daiwa America upgraded shares of NIO (NYSE:NIO - Free Report) to a strong-buy rating in a research report sent to investors on Monday morning, Zacks.com reports.

Several other research analysts also recently commented on the stock. Wolfe Research initiated coverage on shares of NIO in a report on Thursday, September 5th. They issued a peer perform rating for the company. Bank of America boosted their price objective on shares of NIO from $5.00 to $5.30 and gave the company a neutral rating in a report on Thursday, September 5th. JPMorgan Chase & Co. raised shares of NIO from a neutral rating to an overweight rating and upped their target price for the company from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Citigroup dropped their price target on shares of NIO from $8.50 to $7.00 and set a buy rating for the company in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $5.93.

NIO Stock Up 1.0 %

Shares of NIO stock traded up $0.07 during trading hours on Monday, reaching $6.77. 90,901,297 shares of the company's stock were exchanged, compared to its average volume of 56,376,828. The company has a 50 day moving average of $4.73 and a two-hundred day moving average of $4.73. NIO has a fifty-two week low of $3.61 and a fifty-two week 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 stock has a market cap of $11.64 billion, a P/E ratio of -3.92 and a beta of 1.82.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting analysts' consensus estimates of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the prior year, the business posted ($0.51) EPS. The company's quarterly revenue was up 98.9% on a year-over-year basis. On average, sell-side analysts forecast that NIO will post -1.37 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

A number of hedge funds have recently modified their holdings of NIO. Bank of New York Mellon Corp grew its position in NIO by 32.1% in 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 last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in NIO by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company's stock worth $10,430,000 after purchasing an additional 439,474 shares in the last quarter. Electron Capital Partners LLC increased its position in NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company's stock worth $40,180,000 after purchasing an additional 235,521 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in NIO by 127.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company's stock worth $1,704,000 after purchasing an additional 211,936 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in NIO by 28.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company's stock worth $10,950,000 after purchasing an additional 535,400 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.