NIO (NYSE:NIO) Upgraded at The Goldman Sachs Group

NIO (NYSE:NIO - Get Free Report) was upgraded by The Goldman Sachs Group from a "sell" rating to a "neutral" rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $3.80 price target on the stock, up from their previous price target of $3.70. The Goldman Sachs Group's target price would indicate a potential upside of 7.80% from the stock's previous close.

Several other analysts also recently weighed in on the stock. Mizuho cut their price objective on shares of NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. Cfra Research upgraded shares of NIO to a "hold" rating in a research note on Friday, March 21st. Citigroup reiterated a "buy" rating on shares of NIO in a research report on Monday, April 28th. Finally, Barclays decreased their price objective on NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $4.74.

NIO Stock Performance

Shares of NYSE NIO opened at $3.53 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm's 50-day moving average price is $3.79 and its two-hundred day moving average price is $4.17. NIO has a 52-week low of $3.02 and a 52-week high of $7.71. The stock has a market capitalization of $7.36 billion, a P/E ratio of -2.33 and a beta of 1.62.

NIO (NYSE:NIO - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.23). The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $12.46 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. NIO's quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the business earned ($2.39) earnings per share. As a group, sell-side analysts forecast that NIO will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in shares of NIO by 131.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after buying an additional 4,332 shares in the last quarter. Xponance Inc. acquired a new position in NIO during the first quarter worth about $39,000. Blueshift Asset Management LLC bought a new stake in NIO in the first quarter worth about $43,000. Callan Family Office LLC acquired a new stake in NIO in the 4th quarter valued at about $44,000. Finally, Sava Infond d.o.o. acquired a new stake in NIO in the 4th quarter valued at about $44,000. 48.55% of the stock is owned by institutional investors.

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.

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