NIO (NYSE:NIO) Now Covered by Analysts at Macquarie

Macquarie started coverage on shares of NIO (NYSE:NIO) in a report issued on Monday, Marketbeat.com reports. The brokerage issued a neutral rating and a $5.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on NIO. JPMorgan Chase & Co. dropped their price target on shares of NIO from $5.00 to $4.80 and set an underweight rating on the stock in a research note on Wednesday, March 6th. The Goldman Sachs Group began coverage on shares of NIO in a research note on Wednesday, January 3rd. They set a neutral rating on the stock. Mizuho reaffirmed a neutral rating and set a $5.50 target price on shares of NIO in a research note on Monday, March 25th. Jefferies Financial Group lowered their target price on shares of NIO from $8.30 to $5.90 and set a hold rating on the stock in a research note on Wednesday, March 6th. Finally, Bank of America lowered their target price on shares of NIO from $7.50 to $6.50 and set a neutral rating on the stock in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $8.43.

NIO Price Performance

NIO stock opened at $3.99 on Monday. The company’s fifty day moving average price is $5.21 and its 200 day moving average price is $6.74. NIO has a 1 year low of $3.71 and a 1 year high of $16.18. The stock has a market capitalization of $6.86 billion, a P/E ratio of -2.28 and a beta of 1.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors boosted its position in shares of NIO by 4.7% during the 2nd quarter. Captrust Financial Advisors now owns 12,195 shares of the company’s stock valued at $265,000 after acquiring an additional 546 shares during the last quarter. Wetherby Asset Management Inc. raised its holdings in NIO by 4.5% in the 1st quarter. Wetherby Asset Management Inc. now owns 16,714 shares of the company’s stock valued at $352,000 after buying an additional 717 shares during the period. Wahed Invest LLC raised its holdings in NIO by 10.0% in the 2nd quarter. Wahed Invest LLC now owns 9,339 shares of the company’s stock valued at $90,000 after buying an additional 848 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in NIO by 10.3% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 11,812 shares of the company’s stock valued at $115,000 after buying an additional 1,100 shares during the period. Finally, Cigna Investments Inc. New raised its holdings in NIO by 5.4% in the 3rd quarter. Cigna Investments Inc. New now owns 27,498 shares of the company’s stock valued at $249,000 after buying an additional 1,402 shares during the period. Institutional investors and hedge funds 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.