A number of other brokerages have also recently commented on NIO. Zacks Investment Research upgraded shares of NIO from a hold rating to a buy rating and set a $15.00 price target for the company in a research note on Tuesday, August 18th. Bank of America restated a buy rating and set a $18.00 price target on shares of NIO in a research note on Wednesday, August 12th. Credit Suisse Group raised their price target on shares of NIO from $17.50 to $25.00 in a research note on Thursday, September 3rd. Morgan Stanley upgraded shares of NIO from an equal weight rating to an overweight rating and raised their price target for the stock from $12.00 to $20.50 in a research note on Wednesday, August 26th. Finally, Piper Sandler restated a neutral rating and set a $14.00 price target (up previously from $4.00) on shares of NIO in a research note on Wednesday, August 12th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. NIO currently has an average rating of Hold and a consensus target price of $16.89.
NYSE NIO opened at $28.48 on Wednesday. The firm has a 50-day simple moving average of $19.78 and a 200 day simple moving average of $10.58. NIO has a twelve month low of $1.36 and a twelve month high of $29.40. The stock has a market cap of $29.22 billion, a PE ratio of -24.98 and a beta of 2.78.
NIO (NYSE:NIO) last released its earnings results on Tuesday, August 11th. The company reported ($1.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.73). The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period in the previous year, the firm posted ($3.11) EPS. The business’s revenue for the quarter was up 146.5% compared to the same quarter last year. On average, sell-side analysts predict that NIO will post -0.73 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV acquired a new stake in NIO during the 2nd quarter worth $31,000. Focused Wealth Management Inc grew its holdings in NIO by 807.8% during the 2nd quarter. Focused Wealth Management Inc now owns 5,011 shares of the company’s stock worth $39,000 after acquiring an additional 4,459 shares during the period. Valeo Financial Advisors LLC grew its holdings in NIO by 76.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 5,281 shares of the company’s stock worth $41,000 after acquiring an additional 2,281 shares during the period. SRS Capital Advisors Inc. grew its holdings in NIO by 18.1% during the 2nd quarter. SRS Capital Advisors Inc. now owns 6,495 shares of the company’s stock worth $50,000 after acquiring an additional 995 shares during the period. Finally, Integrated Wealth Concepts LLC grew its holdings in NIO by 83.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 20,400 shares of the company’s stock worth $57,000 after acquiring an additional 9,300 shares during the period. 39.43% of the stock is 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.
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