2 weeks Ago By ABMN Staff
Macquarie lowered shares of NIO ( NYSE:NIO – Free Report ) from an outperform rating to a neutral rating in a research report released on Wednesday, MarketBeat reports. They currently have $4.80 price target on the stock, down from their previous price target of $6.
60. Several other equities research analysts have also commented on NIO. JPMorgan Chase & Co.
raised NIO from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $5.30 to $8.00 in a research note on Friday, September 6th.
Bank of America boosted their price target on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th.
Wolfe Research initiated coverage on NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th.
Finally, Citigroup decreased their price target on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th.
One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.91.
Get Our Latest Analysis on NIO NIO Price Performance NIO ( NYSE:NIO – Get Free Report ) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($2.
21). NIO had a negative return on equity of 113.83% and a negative net margin of 33.
41%. The company had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.
49 billion. During the same quarter in the previous year, the company earned ($0.51) EPS.
The firm’s revenue for the quarter was up 98.9% compared to the same quarter last year. Research analysts anticipate that NIO will post -1.
39 earnings per share for the current year. Institutional Inflows and Outflows Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of NIO during the 3rd quarter worth $32,000.
Ridgewood Investments LLC purchased a new position in shares of NIO during the 2nd quarter worth $25,000. First Trust Direct Indexing L.P.
purchased a new position in shares of NIO during the 3rd quarter worth $76,000. Apollon Wealth Management LLC purchased a new position in shares of NIO during the 3rd quarter worth $78,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in shares of NIO during the 2nd quarter worth $53,000.
Hedge funds and other institutional investors own 48.55% of the company’s stock. About NIO ( Get Free Report ) 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. Further Reading Receive News & Ratings for NIO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIO and related companies with MarketBeat.
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