Nio Inc – (NYSE:NIO) Receives a Consensus “Buy” Rating from Analysts
Shares of Nio Inc – (NYSE:NIO – Get Rating) received an average “Buy” recommendation from the fifteen research firms that currently cover the company, MarketBeat Ratings reports. One research analyst gave the stock a hold rating and thirteen gave the company a buy rating. The 12-month average price target among analysts who have updated their coverage of the stock over the past year is $43.05.
NIO has been the subject of a number of recent analyst reports. launched coverage on NIO shares in a research report on Thursday, March 24. They issued a “buy” rating and a price target of $32.40 on the stock. Nomura lowered its price target on NIO shares from $67.10 to $51.50 and set a “buy” rating on the stock in a research report on Monday, March 28. Citigroup launched coverage on NIO shares in a research report on Wednesday, March 16. They issued a “buy” rating on the stock. Mizuho reduced its target price on NIO shares from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, June 10. Finally, UBS Group downgraded NIO’s shares from a “neutral” to a “buy” rating and reduced its price target for the stock from $42.00 to $32.00 in a report of research from Monday, April 4.
Hedge funds have recently changed their holdings in the company. Norges Bank bought a new position in NIO in Q4 worth $435,592,000. Schroder Investment Management Group increased its position in NIO shares by 6,141.7% in the fourth quarter. Schroder Investment Management Group now owns 12,979,146 shares of the company valued at $411,180,000 after acquiring an additional 12,771,205 shares during the period. Renaissance Technologies LLC increased its position in NIO shares by 2,377.8% in the first quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company valued at $113,704,000 after acquiring an additional 5,183,600 shares during the period. UBS Asset Management Americas Inc. increased its position in NIO shares by 35.2% in the third quarter. UBS Asset Management Americas Inc. now owns 9,446,164 shares of the company valued at $336,567,000 after acquiring an additional 2,458,313 shares during the period. Finally, WT Asset Management Ltd bought a new position in NIO shares in the fourth quarter worth approximately $77,414,000. Institutional investors hold 42.98% of the company’s shares.
NIO shares opened at $20.77 on Monday. The company has a market capitalization of $34.67 billion, a PE ratio of -28.07 and a beta of 2.46. The company has a current ratio of 2.02, a quick ratio of 1.93 and a debt ratio of 0.33. The company’s 50-day moving average is $17.25 and its 200-day moving average is $22.44. NIO has a 1-year low of $11.67 and a 1-year high of $55.13.
NIO (NYSE:NIO – Get Rating) last announced its quarterly results on Thursday, June 9. The company reported ($0.79) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.24. NIO had a negative net margin of 19.67% and a negative return on equity of 24.99%. The company posted revenue of $9.91 billion for the quarter, versus analyst estimates of $9.86 billion. During the same period of the previous year, the company posted EPS ($0.48). The company’s revenue increased 24.2% year over year. As a group, research analysts expect NIO to post -0.62 earnings per share for the current year.
NIO Company Profile (Get a rating)
NIO Inc designs, manufactures and sells electric vehicles in the People’s Republic of China. The company is also involved in manufacturing electric powertrains, batteries and components; and race management, technology development, and sales and after-sales management activities. Additionally, it offers power solutions for battery charging needs; and other value-added services.
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