NIO (NYSE:NIO) Stock Rating Lowered by Macquarie

Macquarie lowered shares of NIO (NYSE:NIO) from an outperform rating to a neutral rating in a report released on Wednesday morning, Marketbeat Ratings reports. The firm currently has $4.80 target price on the stock, down from their previous target price of $6.60.

A number of other equities research analysts also recently commented on the company. Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. 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 note on Friday, September 6th. Bank of America increased their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Citigroup decreased their target price 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. Finally, Wolfe Research assumed coverage on NIO in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, NIO has an average rating of “Hold” and an average target price of $5.91.

NIO Trading Up 3.1 %

Shares of NIO stock opened at $4.85 on Wednesday. The firm’s 50 day simple moving average is $5.50 and its two-hundred day simple moving average is $4.91. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of -3.21 and a beta of 1.91. NIO has a 12-month low of $3.61 and a 12-month 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.

NIO (NYSE:NIO) last released its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the prior year, the firm earned ($0.51) EPS. The firm’s revenue was up 98.9% on a year-over-year basis. Analysts predict that NIO will post -1.38 EPS for the current year.

Institutional Investors Weigh In On NIO

Several hedge funds have recently modified their holdings of NIO. Allspring Global Investments Holdings LLC purchased a new position in shares of NIO in the 3rd quarter valued at about $32,000. Ridgewood Investments LLC purchased a new stake in shares of NIO in the second quarter valued at approximately $25,000. First Trust Direct Indexing L.P. acquired a new position in shares of NIO during the 3rd quarter worth approximately $76,000. Apollon Wealth Management LLC purchased a new position in shares of NIO during the 3rd quarter valued at approximately $78,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in NIO in the 2nd quarter valued at $53,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.