NIO (NYSE:NIO) Upgraded to “Neutral” at The Goldman Sachs Group

NIO (NYSE:NIO) was upgraded by analysts at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a report released on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $3.80 price objective on the stock, up from their previous price objective of $3.70. The Goldman Sachs Group’s target price points to a potential upside of 7.80% from the stock’s current price.

NIO has been the subject of several other research reports. Cfra Research upgraded shares of NIO to a “hold” rating in a research report on Friday, March 21st. Mizuho cut their target price on shares of NIO from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 3rd. Barclays decreased their target price on NIO from $4.00 to $3.00 and set an “underweight” rating for the company in a research report on Wednesday, June 4th. Finally, Citigroup reissued a “buy” rating on shares of NIO in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, NIO has a consensus rating of “Hold” and a consensus price target of $4.74.

NIO Stock Performance

Shares of NYSE NIO opened at $3.53 on Tuesday. The stock’s fifty day simple moving average is $3.79 and its 200 day simple moving average is $4.17. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of -2.33 and a beta of 1.62. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. NIO has a 52-week low of $3.02 and a 52-week high of $7.71.

NIO (NYSE:NIO) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.23). The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $12.46 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.39) EPS. As a group, sell-side analysts forecast that NIO will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of NIO

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in NIO by 3,966.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock valued at $20,255,000 after purchasing an additional 5,185,565 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of NIO by 83.3% in the 1st quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company’s stock valued at $8,038,000 after buying an additional 958,750 shares in the last quarter. Trexquant Investment LP acquired a new position in NIO in the fourth quarter worth approximately $3,305,000. Hsbc Holdings PLC increased its holdings in NIO by 96.6% in the first quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company’s stock worth $3,964,000 after buying an additional 510,610 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in NIO during the fourth quarter valued at approximately $1,776,000. 48.55% of the stock is currently owned by hedge funds and other 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.