NIO (NYSE:NIO) Stock Rating Upgraded by Macquarie

NIO (NYSE:NIO) was upgraded by analysts at Macquarie from a “neutral” rating to an “outperform” rating in a report issued on Monday, Marketbeat.com reports. The brokerage presently has a $6.60 target price on the stock. Macquarie’s price objective points to a potential upside of 17.96% from the company’s previous close.

A number of other research analysts have also commented on NIO. Bank of America upped 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 research report on Monday, September 30th. Wolfe Research initiated coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and upped their price target for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Citigroup lowered their price target on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.11.

NIO Stock Performance

Shares of NYSE NIO opened at $5.60 on Monday. The business has a fifty day simple moving average of $5.33 and a 200 day simple moving average of $4.85. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of -3.31 and a beta of 1.86. NIO has a one year low of $3.61 and a one year high of $9.57.

NIO (NYSE:NIO) last issued its earnings results 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 analyst estimates of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. NIO’s revenue was up 98.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.51) earnings per share. Sell-side analysts expect that NIO will post -1.37 EPS for the current year.

Institutional Trading of NIO

Large investors have recently made changes to their positions in the business. Ridgewood Investments LLC bought a new stake in shares of NIO during the second quarter worth $25,000. Allspring Global Investments Holdings LLC bought a new position in NIO in the third quarter valued at about $32,000. Baader Bank Aktiengesellschaft bought a new position in NIO in the second quarter valued at about $53,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after acquiring an additional 2,651 shares during the last quarter. Finally, Caprock Group LLC bought a new position in NIO in the second quarter valued at about $63,000. Institutional investors own 48.55% of the company’s stock.

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.