NIO (NYSE:NIO) Stock Rating Upgraded by Daiwa America
by Amy Steele · The Cerbat GemDaiwa America upgraded shares of NIO (NYSE:NIO – Free Report) to a strong-buy rating in a research note released on Monday morning, Zacks.com reports.
Other equities research analysts have also issued research reports about the company. Citigroup lowered their target price on NIO from $8.50 to $7.00 and set a buy rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. upgraded NIO from a neutral rating to an overweight rating and boosted their price objective for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Wolfe Research initiated coverage on NIO in a report on Thursday, September 5th. They issued a peer perform rating on the stock. Finally, Bank of America lifted their price objective on shares of NIO from $5.00 to $5.30 and gave the company a neutral rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $5.93.
NIO Trading Down 6.9 %
NYSE NIO opened at $6.72 on Monday. NIO has a 52 week low of $3.61 and a 52 week high of $9.57. The company has a market cap of $11.54 billion, a price-to-earnings ratio of -3.97 and a beta of 1.82. The business has a 50 day moving average price of $4.73 and a 200-day moving average price of $4.73. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.
NIO (NYSE:NIO – Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The firm’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.51) EPS. As a group, equities analysts expect that NIO will post -1.37 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. grew its stake in NIO by 2.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock valued at $371,000 after purchasing an additional 2,000 shares during the last quarter. Westwood Holdings Group Inc. increased its position in shares of NIO by 13.9% during the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after purchasing an additional 2,038 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in NIO by 22.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after purchasing an additional 2,651 shares in the last quarter. Cantor Fitzgerald L. P. grew its holdings in NIO by 23.0% in the 4th quarter. Cantor Fitzgerald L. P. now owns 14,548 shares of the company’s stock valued at $132,000 after buying an additional 2,719 shares in the last quarter. Finally, First Affirmative Financial Network raised its stake in NIO by 26.4% during the first quarter. First Affirmative Financial Network now owns 13,256 shares of the company’s stock worth $60,000 after purchasing an additional 2,768 shares during the period. Institutional investors own 48.55% of the company’s stock.
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.
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