NIO (NYSE:NIO) Shares Gap Up After Analyst Upgrade

Nio Inc – (NYSE:NIO) gapped up before the market opened 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 changing hands.

A number of other brokerages have also commented on NIO. Wolfe Research began coverage on NIO in a research note on Thursday. They set a “peer perform” rating on the stock. Citigroup cut their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Bank of America upped their price target on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, NIO has a consensus rating of “Hold” and an average price target of $5.93.

Institutional Investors Weigh In On NIO

Large investors have recently modified their holdings of the company. Hsbc Holdings PLC grew its stake in NIO by 238.6% during the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after purchasing an additional 4,976,403 shares during the period. Point72 Asset Management L.P. increased its stake in shares of NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after acquiring an additional 4,018,659 shares in the last quarter. Electron Capital Partners LLC increased its stake in shares of NIO by 5.6% in the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock valued at $40,180,000 after acquiring an additional 235,521 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of NIO by 28.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after acquiring an additional 535,400 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in NIO by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after acquiring an additional 439,474 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of -2.98 and a beta of 1.82. The business’s fifty day simple moving average is $4.27 and its 200 day simple moving average is $4.71.

NIO (NYSE:NIO) last issued its earnings results 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 111.91% and a negative net margin of 39.38%. The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same period last year, the business posted ($0.51) EPS. The firm’s revenue for the quarter was up 98.9% compared to the same quarter last year. On average, research analysts forecast that Nio Inc – will post -1.43 EPS 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.