NIO (NYSE:NIO) Stock Rating Upgraded by Macquarie

NIO (NYSE:NIO) was upgraded by investment analysts at Macquarie from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, Briefing.com reports. The firm presently has a $6.60 target price on the stock. Macquarie’s price objective indicates a potential upside of 25.48% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Citigroup dropped their price objective on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Wolfe Research assumed coverage on shares of NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Bank of America lifted their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.11.

NIO Stock Up 5.6 %

NYSE NIO opened at $5.26 on Monday. NIO has a 52 week low of $3.61 and a 52 week high of $9.57. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $9.04 billion, a P/E ratio of -3.11 and a beta of 1.86. The stock’s 50-day moving average price is $5.29 and its 200-day moving average price is $4.84.

NIO (NYSE:NIO) last released its earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting analysts’ consensus estimates of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The firm’s revenue was up 98.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.51) EPS. On average, equities research analysts predict that NIO will post -1.37 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Large investors have recently modified their holdings of the stock. Ridgewood Investments LLC bought a new position in NIO during the second quarter valued at $25,000. Allspring Global Investments Holdings LLC bought a new position in NIO during the 3rd quarter valued at about $32,000. Baader Bank Aktiengesellschaft purchased a new stake in NIO in the 2nd quarter worth about $53,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after purchasing an additional 2,651 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in shares of NIO during the second quarter valued at approximately $63,000. Institutional investors own 48.55% of the company’s stock.

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.