JPMorgan Chase & Co. Has Lowered Expectations for NIO (NYSE:NIO) Stock Price

Key Points

• JPMorgan cut NIO’s price target from $4.50 to $3.70 while maintaining a “neutral” rating, implying 12.63% potential upside from the prior close.
• NIO shares fell 0.2% to $3.29, near their 52-week low of $3.24. MarketBeat’s analyst consensus is “Hold,” with an average target price of $5.78.
• Institutional investors own 48.55% of NIO, with several firms recently increasing their positions despite the company’s negative net margin and projected full-year loss.

NIO (NYSE:NIO - Get Free Report) had its price objective cut by JPMorgan Chase & Co. from $4.50 to $3.70 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 12.63% from the stock's previous close.

NIO has been the subject of a number of other research reports. Freedom Broker cut NIO from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 2nd. Zacks Research cut NIO from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 2nd. Citigroup reiterated a "buy" rating on shares of NIO in a report on Tuesday, September 1st. Sanford C. Bernstein dropped their target price on shares of NIO from $6.00 to $5.00 and set a "market perform" rating on the stock in a report on Wednesday, September 2nd. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NIO in a research report on Wednesday, July 29th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $5.78.

NIO Trading Down 0.2%

NIO stock traded down $0.01 during trading on Monday, reaching $3.29. The company had a trading volume of 7,701,779 shares, compared to its average volume of 36,688,754. NIO has a 52 week low of $3.24 and a 52 week high of $7.54. The company has a market cap of $8.16 billion, a P/E ratio of -12.20 and a beta of 0.92. The business has a 50 day moving average of $3.77 and a 200 day moving average of $4.84. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.02 and a quick ratio of 0.89.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings data on Saturday, August 15th. The company reported $0.00 earnings per share for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%. The business had revenue of $4.73 billion for the quarter. As a group, sell-side analysts forecast that NIO will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC raised its position in NIO by 17.4% during the first quarter. V Square Quantitative Management LLC now owns 13,707 shares of the company's stock valued at $83,000 after purchasing an additional 2,027 shares in the last quarter. Engineers Gate Manager LP grew its position in shares of NIO by 2.4% in the 2nd quarter. Engineers Gate Manager LP now owns 152,990 shares of the company's stock valued at $774,000 after buying an additional 3,537 shares during the last quarter. Van ECK Associates Corp raised its holdings in NIO by 0.8% during the 2nd quarter. Van ECK Associates Corp now owns 492,784 shares of the company's stock worth $2,493,000 after purchasing an additional 4,002 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of NIO by 120.7% in 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 in the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its position in shares of NIO by 17.5% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 29,605 shares of the company's stock worth $150,000 after buying an additional 4,406 shares during the period. Institutional investors own 48.55% of the company's stock.

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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