NIO (NYSE:NIO) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research started coverage on shares of NIO (NYSE:NIO) in a research report released on Thursday, MarketBeat.com reports. The brokerage issued a peer perform rating on the stock.

Several other research firms have also recently weighed in on NIO. Citigroup cut their price objective on NIO from $8.50 to $7.00 and set a buy rating on the stock in a report on Wednesday. Bank of America lifted their price target on shares of NIO from $5.90 to $6.00 and gave the company a neutral rating in a research note on Friday, June 7th. Finally, JPMorgan Chase & Co. raised shares of NIO from an underweight rating to a neutral rating and increased their price objective for the stock from $4.80 to $5.40 in a research report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $5.93.

NIO Stock Up 3.5 %

Shares of NYSE:NIO opened at $5.02 on Thursday. The company has a 50 day moving average price of $4.27 and a two-hundred day moving average price of $4.70. The company has a market capitalization of $8.63 billion, a PE ratio of -2.97 and a beta of 1.82. NIO has a 52 week low of $3.61 and a 52 week high of $10.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting analysts’ consensus estimates of ($2.21). The business had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The firm’s quarterly revenue was up 98.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.51) EPS. Analysts forecast that NIO will post -1.43 earnings per share for the current year.

Institutional Trading of NIO

Institutional investors have recently made changes to their positions in the business. Ridgewood Investments LLC acquired a new stake in NIO in the 2nd quarter valued at $25,000. Newbridge Financial Services Group Inc. grew its holdings in shares of NIO by 272.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after acquiring an additional 6,875 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of NIO in the fourth quarter valued at about $42,000. BSW Wealth Partners bought a new stake in NIO during the first quarter worth about $46,000. Finally, Sound Income Strategies LLC boosted its position in NIO by 3,333.3% during the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

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.