NIO (NYSE:NIO) Cut to “Neutral” at Macquarie

Macquarie downgraded shares of NIO (NYSE:NIO) from an outperform rating to a neutral rating in a report released on Wednesday morning, MarketBeat Ratings reports. They currently have $4.80 price objective on the stock, down from their previous price objective of $6.60.

Several other analysts also recently weighed in on NIO. Wolfe Research initiated coverage on NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Citigroup lowered their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Bank of America raised their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.91.

NIO Price Performance

NIO stock opened at $4.85 on Wednesday. The stock has a market cap of $8.33 billion, a PE ratio of -3.21 and a beta of 1.91. NIO has a 12 month low of $3.61 and a 12 month high of $9.57. The company has a 50-day moving average price of $5.50 and a 200 day moving average price of $4.91. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last announced its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The business had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same quarter in the previous year, the business earned ($0.51) earnings per share. The company’s revenue for the quarter was up 98.9% compared to the same quarter last year. Equities research analysts anticipate that NIO will post -1.38 earnings per share for the current year.

Institutional Trading of NIO

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new position in shares of NIO in the 3rd quarter worth $32,000. Ridgewood Investments LLC bought a new position in shares of NIO during the 2nd quarter worth approximately $25,000. First Trust Direct Indexing L.P. purchased a new stake in NIO during the third quarter valued at approximately $76,000. Apollon Wealth Management LLC acquired a new stake in NIO in the third quarter valued at approximately $78,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in NIO in the second quarter worth $53,000. Institutional investors own 48.55% of the company’s stock.

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.