NIO logo” title=”NIO” class=”companylogo”/>Nio Inc – (NYSE:NIO) has earned an average rating of “Buy” from the sixteen analysts that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $66.45.
Several equities research analysts have issued reports on NIO shares. Citigroup reaffirmed a “neutral” rating on shares of NIO in a research note on Thursday, August 12th. 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. BOCOM International assumed coverage on NIO in a research note on Tuesday, June 8th. They issued a “buy” rating and a $57.00 price target on the stock. Finally, HSBC upgraded NIO from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research note on Friday, July 9th.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of NIO by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 46,324,185 shares of the company’s stock valued at $2,464,447,000 after buying an additional 1,433,633 shares during the last quarter. State Street Corp raised its position in NIO by 1.5% during the second quarter. State Street Corp now owns 25,868,642 shares of the company’s stock worth $1,376,212,000 after acquiring an additional 384,556 shares during the last quarter. Legal & General Group Plc raised its position in shares of NIO by 0.6% in the second quarter. Legal & General Group Plc now owns 8,147,408 shares of the company’s stock valued at $433,441,000 after buying an additional 46,991 shares during the last quarter. Natixis raised its position in shares of NIO by 114.7% in the second quarter. Natixis now owns 7,778,195 shares of the company’s stock valued at $413,800,000 after buying an additional 4,155,249 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of NIO by 13.9% in the first quarter. Canada Pension Plan Investment Board now owns 7,346,351 shares of the company’s stock valued at $286,361,000 after buying an additional 897,541 shares during the last quarter. Institutional investors and hedge funds own 29.41% of the company’s stock.
NIO stock opened at $37.51 on Friday. The company has a current ratio of 2.48, a quick ratio of 2.38 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $58.86 billion, a PE ratio of -44.13 and a beta of 2.50. NIO has a 12 month low of $16.75 and a 12 month high of $66.99. The stock has a 50-day moving average price of $41.22 and a two-hundred day moving average price of $40.97.
NIO (NYSE:NIO) last announced its quarterly earnings data on Wednesday, August 11th. The company reported ($0.42) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.12. NIO had a negative return on equity of 36.97% and a negative net margin of 29.68%. As a group, analysts predict that NIO will post -0.79 earnings per share for the current fiscal year.
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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