NIO (NYSE:NIO) Rating Lowered to Neutral at Macquarie

NIO (NYSE:NIO) was downgraded by stock analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued on Wednesday,Briefing.com Automated Import reports. They currently have a $4.80 target price on the stock, down from their previous target price of $6.60. Macquarie’s price target indicates a potential upside of 1.27% from the company’s previous close.

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

NIO Stock Performance

Shares of NYSE:NIO traded up $0.11 during trading on Wednesday, hitting $4.74. 68,945,758 shares of the stock were exchanged, compared to its average volume of 56,753,043. The company’s fifty day simple moving average is $5.53 and its 200-day simple moving average is $4.91. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of -3.12 and a beta of 1.91. NIO has a 1-year low of $3.61 and a 1-year high of $9.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting analysts’ consensus estimates of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The firm had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same quarter last year, the company earned ($0.51) earnings per share. The company’s revenue for the quarter was up 98.9% compared to the same quarter last year. Sell-side analysts expect that NIO will post -1.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co boosted its holdings 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 worth $10,950,000 after buying an additional 535,400 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in NIO by 13.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after purchasing an additional 2,038 shares during the period. Bayesian Capital Management LP bought a new stake in shares of NIO during the 1st quarter worth $185,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of NIO by 29.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 40,876 shares of the company’s stock worth $184,000 after buying an additional 9,375 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in NIO by 12.4% during the first quarter. California State Teachers Retirement System now owns 424,836 shares of the company’s stock valued at $1,912,000 after buying an additional 46,987 shares during the period. 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.