NIO (NYSE:NIO) Receives New Coverage from Analysts at Macquarie

Macquarie began coverage on shares of NIO (NYSE:NIO) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm issued a neutral rating and a $5.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. Bank of America lowered their price target on NIO from $7.50 to $6.50 and set a neutral rating for the company in a research note on Wednesday, March 6th. UBS Group lowered their price target on NIO from $8.00 to $7.20 and set a neutral rating for the company in a research note on Thursday, March 14th. Jefferies Financial Group lowered their price target on NIO from $8.30 to $5.90 and set a hold rating for the company in a research note on Wednesday, March 6th. Barclays reissued an underweight rating and issued a $4.00 price target (down previously from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. decreased their target price on NIO from $5.00 to $4.80 and set an underweight rating for the company in a research report on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $8.43.

NIO Price Performance

Shares of NIO opened at $3.89 on Monday. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of -2.22 and a beta of 1.93. NIO has a fifty-two week low of $3.82 and a fifty-two week high of $16.18. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.22 and a quick ratio of 1.13. The business’s 50-day moving average is $5.33 and its 200-day moving average is $6.82.

NIO (NYSE:NIO) last issued its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $18.16 billion. NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. NIO’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.51) EPS. Equities research analysts expect that NIO will post -1.26 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC boosted its position in shares of NIO by 352.5% in the third quarter. SG Americas Securities LLC now owns 630,470 shares of the company’s stock valued at $5,699,000 after acquiring an additional 491,140 shares during the period. Electron Capital Partners LLC acquired a new position in shares of NIO in the third quarter valued at $37,918,000. Top Ace Asset Management Ltd acquired a new position in shares of NIO in the third quarter valued at $1,888,000. Banque Pictet & Cie SA acquired a new position in shares of NIO in the third quarter valued at $2,486,000. Finally, Meridian Wealth Management LLC raised its stake in shares of NIO by 503.8% in the third quarter. Meridian Wealth Management LLC now owns 89,849 shares of the company’s stock valued at $812,000 after purchasing an additional 74,968 shares in the last quarter. 48.55% of the stock is 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.