NIO logo” title=”NIO” class=”companylogo”/>NIO (NYSE:NIO) had its target price hoisted by equities research analysts at Citigroup from $58.30 to $72.00 in a research report issued on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 43.20% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. CLSA began coverage on shares of NIO in a research report on Friday, April 23rd. They issued a “buy” rating and a $50.00 price target on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $60.00 price target on shares of NIO in a research note on Tuesday, April 27th. Mizuho lifted their price objective on NIO from $60.00 to $65.00 and gave the company a “buy” rating in a report on Monday, May 3rd. They noted that the move was a valuation call. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded NIO from a “neutral” rating to a “buy” rating and upped their target price for the stock from $57.60 to $58.30 in a report on Tuesday, June 1st. Finally, BOCOM International initiated coverage on NIO in a research note on Tuesday, June 8th. They issued a “buy” rating and a $57.00 target price on the stock. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $52.56.
Shares of NIO traded up $0.88 on Tuesday, reaching $50.28. The company’s stock had a trading volume of 1,344,655 shares, compared to its average volume of 90,120,969. The company has a quick ratio of 2.96, a current ratio of 3.06 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $78.89 billion, a PE ratio of -53.30 and a beta of 2.55. The company’s 50 day moving average price is $40.08. NIO has a 12-month low of $6.71 and a 12-month high of $66.99.
NIO (NYSE:NIO) last released its earnings results on Thursday, April 29th. The company reported ($0.48) EPS for the quarter. The firm had revenue of $1.22 billion for the quarter. NIO had a negative return on equity of 61.18% and a negative net margin of 38.46%. As a group, research analysts expect that NIO will post -0.65 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Aubrey Capital Management Ltd purchased a new stake in shares of NIO in the first quarter valued at approximately $16,293,000. Annex Advisory Services LLC grew its position in shares of NIO by 372.9% in the first quarter. Annex Advisory Services LLC now owns 26,010 shares of the company’s stock valued at $1,013,000 after purchasing an additional 20,510 shares during the period. Gulf International Bank UK Ltd grew its position in shares of NIO by 9.2% in the first quarter. Gulf International Bank UK Ltd now owns 201,411 shares of the company’s stock valued at $7,851,000 after purchasing an additional 17,000 shares during the period. CIBC World Markets Inc. grew its position in shares of NIO by 12.5% in the first quarter. CIBC World Markets Inc. now owns 39,946 shares of the company’s stock valued at $1,557,000 after purchasing an additional 4,423 shares during the period. Finally, Vontobel Holding Ltd. grew its position in shares of NIO by 91.0% in the first quarter. Vontobel Holding Ltd. now owns 124,893 shares of the company’s stock valued at $4,868,000 after purchasing an additional 59,511 shares during the period. Hedge funds and other institutional investors own 28.63% 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.
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7 Semiconductor Stocks Set to Gain From the Chip Shortage
Who knew that something so tiny could create such a big problem? However, that’s the case with the semiconductor industry. Chip manufacturers are facing supply chain disruptions due to the Covid-19 pandemic.
Semiconductors are in high demand for the big tech companies who need the chips to power the servers for their data centers. But they are also needed for much of the technology we take for granted including laptops, tablets, mobile phones, gaming consoles, and automobiles – a sector that seems to be at the root of the current crisis.
Any weekend mechanic knows that even traditional internal combustion cars are heavily reliant on electronics. In fact, electronic parts and components account for 40% of a new, internal combustion vehicle. That’s more than doubled since 2000.
However as it turns out, some manufacturers may have overestimated how soon consumers would be ready for an “all-electric” future. And that meant that they didn’t forecast how much demand there would be for the kind of chips needed to do the mundane, but vital tasks of steering, braking, and even powering windows up and down.
Part of the problem is that U.S. businesses are heavily reliant on countries like China and Taiwan for their semiconductors. In fact, only about 12.5% of semiconductor manufacturing is done in the United States.
Of course, this creates a tremendous opportunity for the companies that manufacture these chips. And it comes at a good time. The semiconductor sector is notoriously cyclical and was coming down from the elevated demand for the 5G buildout.
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View the “7 Semiconductor Stocks Set to Gain From the Chip Shortage”.