Nio Inc – (NYSE:NIO – Get Free Report) has been given a consensus rating of “Hold” by the eleven research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $7.55.
A number of brokerages recently weighed in on NIO. Citigroup dropped their price objective on NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a report on Thursday, June 6th. Macquarie assumed coverage on shares of NIO in a report on Monday, April 15th. They issued a “neutral” rating and a $5.00 price target for the company. Bank of America boosted their price objective on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. Finally, JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and increased their target price for the company from $4.80 to $5.40 in a report on Wednesday, May 15th.
NIO Stock Performance
NIO (NYSE:NIO – Get Free Report) last announced its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. Analysts predict that NIO will post -1.41 EPS for the current fiscal year.
Institutional Investors Weigh In On NIO
Hedge funds have recently modified their holdings of the company. Ridgewood Investments LLC purchased a new stake in shares of NIO during the 2nd quarter worth about $25,000. Bfsg LLC purchased a new position in shares of NIO in the fourth quarter valued at $33,000. Rakuten Securities Inc. purchased a new stake in shares of NIO during the fourth quarter worth about $38,000. Newbridge Financial Services Group Inc. lifted its stake in shares of NIO by 272.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after acquiring an additional 6,875 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in NIO during the 4th quarter worth $42,000. 48.55% of the stock is owned by institutional investors and hedge funds.
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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