Nio Inc – (NYSE:NIO) Receives $8.43 Consensus Price Target from Brokerages

Shares of Nio Inc – (NYSE:NIO) have earned an average recommendation of “Reduce” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $8.43.

A number of research firms have recently issued reports on NIO. Jefferies Financial Group cut their price objective on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Barclays reaffirmed an “underweight” rating and issued a $4.00 price objective (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. The Goldman Sachs Group initiated coverage on NIO in a research report on Wednesday, January 3rd. They issued a “neutral” rating for the company. Macquarie initiated coverage on NIO in a report on Monday, April 15th. They set a “neutral” rating and a $5.00 price target for the company. Finally, Sanford C. Bernstein dropped their price target on NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a report on Thursday, March 7th.

Hedge Funds Weigh In On NIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bfsg LLC acquired a new position in NIO in the 4th quarter valued at $33,000. Rakuten Securities Inc. acquired a new position in shares of NIO during the 4th quarter worth $38,000. Principal Securities Inc. acquired a new position in shares of NIO during the 4th quarter worth $42,000. Peoples Bank KS acquired a new position in shares of NIO during the 3rd quarter worth $46,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of NIO by 272.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after buying an additional 6,875 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Price Performance

Shares of NYSE NIO opened at $4.49 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average price is $4.99 and its two-hundred day moving average price is $6.55. The company has a market cap of $7.72 billion, a PE ratio of -2.57 and a beta of 1.93. NIO has a twelve month low of $3.61 and a twelve month high of $16.18.

NIO (NYSE:NIO) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $18.16 billion. During the same period in the previous year, the business earned ($0.51) earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts predict that NIO will post -1.26 EPS for the current year.

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.