NIO (NYSE:NIO) Downgraded to Sell Rating by The Goldman Sachs Group

NIO (NYSE:NIO) was downgraded by stock analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. They currently have a $3.90 price objective on the stock, down from their previous price objective of $4.80. The Goldman Sachs Group’s price target indicates a potential downside of 19.42% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Wolfe Research began coverage on shares of NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Bank of America lifted their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Citigroup decreased their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Stock Performance

NYSE:NIO opened at $4.84 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of -3.21 and a beta of 1.91. NIO has a twelve month low of $3.61 and a twelve month high of $9.57. The company has a 50-day moving average of $5.49 and a 200-day moving average of $4.90.

NIO (NYSE:NIO) last announced its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. NIO’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.51) earnings per share. Analysts forecast that NIO will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of hedge funds have recently bought and sold shares of NIO. Westwood Holdings Group Inc. increased its stake in NIO by 13.9% during the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after acquiring an additional 2,038 shares during the period. Ballentine Partners LLC boosted its holdings in NIO by 11.5% in the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after acquiring an additional 2,482 shares during the last quarter. Atomi Financial Group Inc. grew its position in shares of NIO by 15.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after buying an additional 2,588 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of NIO by 22.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after purchasing an additional 2,651 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in NIO by 4.8% in the second quarter. Assenagon Asset Management S.A. now owns 63,093 shares of the company’s stock valued at $262,000 after buying an additional 2,915 shares during the period. 48.55% of the stock is currently owned by institutional investors.

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.