NIO Inc. (NYSE:NIO) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts collectively rate NIO “Hold”: Of 16 brokerages, eight recommend holding, six recommend buying and two recommend selling. The average 12-month price target is $5.98.
• Several firms recently became more cautious, including JPMorgan, Zacks Research, RBC and Bernstein, which downgraded the stock or reduced their price targets.
• NIO shares opened at $3.58, near their 12-month low of $3.55, while the company remains unprofitable with a negative net margin and return on equity. Institutional investors own 48.55% of the stock, with several major funds increasing their positions.

Shares of NIO Inc. (NYSE:NIO - Get Free Report) have been given an average rating of "Hold" by the sixteen brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.98.

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $7.00 to $4.50 in a research report on Wednesday, September 2nd. Zacks Research lowered NIO from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 2nd. Weiss Ratings reissued a "sell (e+)" rating on shares of NIO in a report on Wednesday, July 29th. Royal Bank Of Canada lowered NIO to a "sector perform" rating in a research report on Thursday, September 3rd. Finally, Sanford C. Bernstein cut their price objective 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.

NIO Price Performance

Shares of NYSE:NIO opened at $3.58 on Thursday. NIO has a twelve month low of $3.55 and a twelve month high of $8.02. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 2.11. The company has a market cap of $8.90 billion, a price-to-earnings ratio of -13.28 and a beta of 0.92. The business has a 50 day moving average price of $4.44 and a 200 day moving average price of $5.23.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings results on Saturday, August 15th. The company reported $0.00 earnings per share (EPS) for the quarter. The company had revenue of $4.73 billion for the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. Research analysts predict that NIO will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NIO. Bank of America Corp DE boosted its holdings in NIO by 99.0% during the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company's stock worth $85,800,000 after buying an additional 7,079,903 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of NIO by 651.5% in the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company's stock valued at $8,051,000 after acquiring an additional 1,387,656 shares during the period. Renaissance Technologies LLC boosted its stake in NIO by 70.2% during the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company's stock worth $87,146,000 after acquiring an additional 5,962,731 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in NIO during the 2nd quarter worth approximately $19,008,000. Finally, ABC Arbitrage SA acquired a new position in NIO during the first quarter valued at approximately $4,043,000. 48.55% of the stock is currently owned by institutional investors.

About NIO

NIO Inc is a Chinese smart electric vehicle company founded in 2014 and headquartered in Shanghai. The company designs, develops and sells battery-powered passenger vehicles, with a focus on combining electric mobility with digital connectivity, autonomous-driving capabilities and premium user services.

NIO's vehicle lineup has included electric SUVs, sedans and station wagons marketed under the NIO brand. Its services include battery charging and swapping, mobile charging, battery upgrades, vehicle financing and maintenance support.

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