NIO (NYSE:NIO) Stock Rating Lowered by The Goldman Sachs Group

NIO (NYSE:NIO) was downgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Monday, Marketbeat reports. They currently have a $3.90 target price on the stock, down from their prior target price of $4.80. The Goldman Sachs Group’s price objective indicates a potential downside of 9.83% from the company’s current price.

A number of other research analysts also recently weighed in on NIO. Bank of America increased their target price on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. Wolfe Research started coverage on NIO in a research note 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 increased their price target for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Finally, Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.71.

NIO Stock Performance

Shares of NIO opened at $4.33 on Monday. The stock has a 50 day moving average of $5.48 and a 200 day moving average of $4.89. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. NIO has a 12 month low of $3.61 and a 12 month high of $9.57. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of -2.91 and a beta of 1.91.

NIO (NYSE:NIO) last announced its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). The firm 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 113.83% and a negative net margin of 33.41%. The business’s revenue was up 98.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.51) EPS. As a group, sell-side analysts forecast that NIO will post -1.39 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Several hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of NIO during the 3rd quarter valued at $32,000. Ridgewood Investments LLC bought a new stake in shares of NIO during the 2nd quarter valued at about $25,000. First Trust Direct Indexing L.P. purchased a new position in shares of NIO during the third quarter worth about $76,000. Apollon Wealth Management LLC purchased a new position in shares of NIO during the third quarter worth about $78,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of NIO in the second quarter worth approximately $53,000. Hedge funds and other 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.