Nio Inc – (NYSE:NIO – Get Free Report)’s stock price gapped up prior to trading on Thursday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $4.24, but opened at $4.41. JPMorgan Chase & Co. now has a $8.00 price target on the stock, up from their previous price target of $5.30. NIO shares last traded at $4.50, with a volume of 21,181,309 shares trading hands.
A number of other equities analysts also recently commented on the stock. Wolfe Research began coverage on shares of NIO in a research report on Thursday. They set a “peer perform” rating for the company. Bank of America increased their price target on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday. Finally, Citigroup lowered their price objective on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NIO currently has an average rating of “Hold” and a consensus price target of $5.93.
Check Out Our Latest Stock Analysis on NIO
Hedge Funds Weigh In On NIO
NIO Stock Performance
The company’s fifty day moving average price is $4.27 and its two-hundred day moving average price is $4.71. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. The firm has a market capitalization of $8.65 billion, a PE ratio of -2.98 and a beta of 1.82.
NIO (NYSE:NIO – Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. NIO’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.51) earnings per share. As a group, equities analysts expect that Nio Inc – will post -1.43 earnings per share for the current year.
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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