Brokerages Set Nio Inc – (NYSE:NIO) PT at $8.43

Nio Inc – (NYSE:NIO) has been given an average rating of “Reduce” by the eleven research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $8.43.

Several brokerages recently weighed in on NIO. Sanford C. Bernstein dropped their target price on shares of NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a report on Thursday, March 7th. Mizuho reaffirmed a “neutral” rating and issued a $5.50 price target on shares of NIO in a report on Monday, March 25th. Barclays reaffirmed an “underweight” rating and issued a $4.00 price target (down previously from $5.00) on shares of NIO in a report on Tuesday, April 2nd. JPMorgan Chase & Co. reduced their price objective on shares of NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a research report on Wednesday, March 6th. Finally, UBS Group reduced their price objective on shares of NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th.

Hedge Funds Weigh In On NIO

Institutional investors have recently bought and sold shares of the business. Bfsg LLC acquired a new stake in NIO in the fourth quarter valued at approximately $33,000. Rakuten Securities Inc. acquired a new stake in shares of NIO during the fourth quarter worth $38,000. Newbridge Financial Services Group Inc. raised its holdings in shares of NIO by 272.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after purchasing an additional 6,875 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of NIO during the fourth quarter worth $42,000. Finally, Peoples Bank KS purchased a new position in shares of NIO during the third quarter worth $46,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Stock Performance

NIO stock opened at $4.49 on Thursday. The stock has a market capitalization of $7.72 billion, a PE ratio of -2.57 and a beta of 1.93. NIO has a 12-month low of $3.61 and a 12-month high of $16.18. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $4.99 and its 200 day simple moving average is $6.55.

NIO (NYSE:NIO) last issued its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.42). The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.51) EPS. As a group, research analysts forecast that NIO will post -1.26 earnings per share for the current fiscal 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.