NIO (NYSE:NIO) Downgraded to Neutral Rating by Macquarie

NIO (NYSE:NIO) was downgraded by equities researchers at Macquarie from an “outperform” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a $4.80 target price on the stock, down from their previous target price of $6.60. Macquarie’s target price points to a potential upside of 1.82% from the company’s previous close.

A number of other research analysts have also recently issued reports on NIO. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Citigroup cut their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Bank of America increased their price target on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Finally, Wolfe Research began coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and a consensus target price of $5.91.

NIO Trading Up 1.4 %

NYSE NIO opened at $4.71 on Wednesday. NIO has a 52 week low of $3.61 and a 52 week high of $9.57. The company has a 50 day moving average price of $5.52 and a 200 day moving average price of $4.91. 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 firm has a market cap of $8.10 billion, a PE ratio of -3.11 and a beta of 1.91.

NIO (NYSE:NIO) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) 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 during the quarter, compared to analyst estimates of $17.49 billion. During the same quarter in the prior year, the business posted ($0.51) EPS. The business’s revenue for the quarter was up 98.9% compared to the same quarter last year. As a group, sell-side analysts forecast that NIO will post -1.38 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Allspring Global Investments Holdings LLC acquired a new position in NIO during the third quarter worth about $32,000. Ridgewood Investments LLC acquired a new stake in shares of NIO in the second quarter valued at approximately $25,000. First Trust Direct Indexing L.P. purchased a new position in NIO during the third quarter worth approximately $76,000. Apollon Wealth Management LLC acquired a new position in NIO during the third quarter worth $78,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in NIO in the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.