Brokerages Set Nio Inc – (NYSE:NIO) PT at $4.07
Nio Inc – (NYSE:NIO) has received an average recommendation of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $4.07.
Several research firms have recently issued reports on NIO. JPMorgan Chase & Co. raised NIO from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $2.00 to $3.50 in a research note on Wednesday, May 27th. started coverage on NIO in a research note on Tuesday, June 9th. They issued a “sell” rating on the stock. Citigroup downgraded NIO from a “buy” rating to a “neutral” rating and set a $4.30 price target on the stock. in a report on Monday, March 2nd. Zacks Investment Research downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Goldman Sachs Group cut NIO from a “buy” rating to a “neutral” rating and upped their price target for the stock from $6.40 to $7.00 in a research report on Wednesday, June 24th.
A number of large investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its stake in shares of NIO by 0.4% in the first quarter. Baillie Gifford & Co. now owns 101,744,131 shares of the company’s stock valued at $282,849,000 after acquiring an additional 373,700 shares in the last quarter. State Street Corp grew its holdings in shares of NIO by 6.1% during the fourth quarter. State Street Corp now owns 12,290,093 shares of the company’s stock worth $49,406,000 after buying an additional 704,700 shares during the last quarter. Myriad Asset Management Ltd. grew its holdings in shares of NIO by 11,568.2% during the fourth quarter. Myriad Asset Management Ltd. now owns 9,637,900 shares of the company’s stock worth $38,744,000 after buying an additional 9,555,300 shares during the last quarter. Legal & General Group Plc lifted its position in NIO by 5.1% in the first quarter. Legal & General Group Plc now owns 4,875,702 shares of the company’s stock valued at $13,555,000 after purchasing an additional 235,452 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its position in NIO by 18.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,489,293 shares of the company’s stock valued at $14,027,000 after purchasing an additional 531,194 shares during the period. Institutional investors own 31.50% of the company’s stock.
NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, May 28th. The company reported ($1.60) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.85) by $0.25. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.25 billion. NIO had a negative return on equity of 947.90% and a negative net margin of 138.04%. The company’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter last year, the company posted ($2.42) EPS. On average, analysts anticipate that NIO will post -1.25 earnings per share for the current fiscal year.
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.
Further Reading: Neutral Rating
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