NIO (NYSE:NIO – Get Free Report) had its price target cut by equities researchers at JPMorgan Chase & Co. from $4.50 to $3.70 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 12.63% from the company’s current price.
A number of other research analysts have also recently commented on NIO. Sanford C. Bernstein reduced their target price on NIO from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research note on Wednesday, July 29th. Royal Bank Of Canada lowered NIO to a “sector perform” rating in a research report on Thursday, September 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $6.10 target price on shares of NIO in a research note on Friday, September 4th. Finally, Freedom Broker downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, NIO has a consensus rating of “Hold” and a consensus price target of $5.78.
View Our Latest Analysis on NIO
NIO Stock Performance
NYSE NIO traded down $0.01 during trading on Monday, hitting $3.29. 7,701,779 shares of the company’s stock traded hands, compared to its average volume of 36,688,754. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of -12.20 and a beta of 0.92. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.89 and a current ratio of 1.02. The business has a 50 day moving average of $3.77 and a 200-day moving average of $4.84. NIO has a 12-month low of $3.24 and a 12-month high of $7.54.
NIO (NYSE:NIO – Get Free Report) last issued its earnings results on Saturday, August 15th. The company reported $0.00 earnings per share (EPS) for the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. The business had revenue of $4.73 billion for the quarter. As a group, equities research analysts anticipate that NIO will post -0.13 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Persistent Asset Partners Ltd bought a new position in NIO in the second quarter valued at about $34,000. Global Retirement Partners LLC purchased a new stake in NIO during the second quarter valued at approximately $34,000. Wellington Altus USA Inc. bought a new position in NIO in the second quarter worth approximately $35,000. EverSource Wealth Advisors LLC boosted its stake in shares of NIO by 120.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock worth $48,000 after acquiring an additional 4,383 shares during the last quarter. Finally, Strengthening Families & Communities LLC boosted its stake in shares of NIO by 143.5% during the 3rd quarter. Strengthening Families & Communities LLC now owns 8,171 shares of the company’s stock worth $28,000 after acquiring an additional 4,815 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.
NIO Company Profile
NIO Inc is a Chinese smart electric vehicle manufacturer founded in 2014 and headquartered in Shanghai. The company develops, manufactures and sells premium battery-powered passenger vehicles, including sedans, SUVs and coupés. Its vehicle lineup has included models such as the ET7, ET5, ES6, EL6, EL7 and EC6, along with newer vehicles introduced under the NIO and ONVO brands.
In addition to vehicle sales, NIO provides related services and technologies designed to support electric vehicle ownership.
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