NIO (NYSE:NIO) Receives New Coverage from Analysts at Macquarie

Macquarie started coverage on shares of NIO (NYSE:NIO) in a research report sent to investors on Monday, MarketBeat reports. The firm issued a neutral rating and a $5.00 price objective on the stock.

Several other equities research analysts also recently issued reports on the stock. Barclays restated an underweight rating and set a $4.00 price objective (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Jefferies Financial Group cut their price objective on shares of NIO from $8.30 to $5.90 and set a hold rating for the company in a research report on Wednesday, March 6th. Mizuho restated a neutral rating and set a $5.50 price objective on shares of NIO in a research report on Monday, March 25th. UBS Group cut their price objective on shares of NIO from $8.00 to $7.20 and set a neutral rating for the company in a research report on Thursday, March 14th. Finally, Bank of America cut their price objective on shares of NIO from $7.50 to $6.50 and set a neutral rating for the company in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $8.43.

NIO Trading Up 2.8 %

Shares of NYSE:NIO opened at $3.92 on Monday. NIO has a 52-week low of $3.71 and a 52-week high of $16.18. The company has a market capitalization of $6.73 billion, a P/E ratio of -2.24 and a beta of 1.93. The company has a 50-day simple moving average of $5.25 and a 200 day simple moving average of $6.76. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22.

NIO (NYSE:NIO) last issued its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.39) by ($0.42). NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $18.16 billion. During the same quarter last year, the business posted ($0.51) earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts forecast that NIO will post -1.26 earnings per share for the current year.

Institutional Investors Weigh In On NIO

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AMF Tjanstepension AB raised its position in shares of NIO by 132.4% in the first quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock valued at $7,030,000 after buying an additional 889,900 shares in the last quarter. 180 Wealth Advisors LLC increased its stake in NIO by 41.6% in the first quarter. 180 Wealth Advisors LLC now owns 92,893 shares of the company’s stock valued at $418,000 after acquiring an additional 27,289 shares during the last quarter. Edge Wealth Management LLC bought a new position in NIO in the first quarter valued at approximately $54,000. Sound Income Strategies LLC increased its stake in NIO by 3,333.3% in the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Strategic Planning Group LLC increased its stake in NIO by 23.8% in the first quarter. Strategic Planning Group LLC now owns 329,320 shares of the company’s stock valued at $1,482,000 after acquiring an additional 63,400 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

About NIO

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.