Analysts at Mizuho initiated coverage on shares of NIO (NYSE:NIO) in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage set a "buy" rating and a $60.00 price target on the stock. Mizuho's target price suggests a potential upside of 33.54% from the stock's previous close.
NIO has been the subject of a number of other research reports. Nomura started coverage on NIO in a report on Friday, January 22nd. They set a "buy" rating and a $80.30 price target for the company. Daiwa Capital Markets started coverage on NIO in a report on Monday, December 14th. They set a "buy" rating for the company. Jefferies Financial Group reduced their price target on NIO from $60.00 to $38.80 and set a "hold" rating for the company in a report on Monday. The Goldman Sachs Group upgraded NIO from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $7.70 to $59.00 in a report on Tuesday, December 1st. Finally, JPMorgan Chase & Co. lifted their price target on NIO from $50.00 to $75.00 and gave the stock an "overweight" rating in a report on Monday, January 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company's stock. The company currently has a consensus rating of "Buy" and a consensus target price of $48.00.
NYSE:NIO opened at $44.93 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.33 and a current ratio of 2.42. The stock's 50-day simple moving average is $52.21 and its 200 day simple moving average is $40.91. The company has a market cap of $57.61 billion, a P/E ratio of -48.31 and a beta of 2.81. NIO has a 52-week low of $2.11 and a 52-week high of $66.99.
NIO (NYSE:NIO) last released its earnings results on Monday, March 1st. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.89). The company had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.71 billion. The business's revenue was up 133.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.73) earnings per share. As a group, equities analysts predict that NIO will post -0.73 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of NIO. Public Employees Retirement Association of Colorado boosted its stake in shares of NIO by 12,500.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 504 shares of the company's stock valued at $25,000 after buying an additional 500 shares during the period. Advisory Alpha LLC bought a new stake in shares of NIO in the third quarter valued at approximately $28,000. Eudaimonia Partners LLC bought a new stake in shares of NIO in the third quarter valued at approximately $30,000. O Shaughnessy Asset Management LLC bought a new stake in shares of NIO in the third quarter valued at approximately $31,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in NIO during the third quarter valued at approximately $34,000.
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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