Posted by ABMN Staff on May 29th, 2024
NIO (NYSE:NIO – Free Report) had its price target lowered by Bank of America from $6.50 to $5.90 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.
Other equities research analysts also recently issued reports about the company. Sanford C. Bernstein lowered their target price on NIO from $7.50 to $5.50 and set a market perform rating for the company in a report on Thursday, March 7th. Barclays reiterated an underweight rating and set a $4.00 target price (down previously from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. raised shares of NIO from an underweight rating to a neutral rating and lifted their price target for the company from $4.80 to $5.40 in a research note on Wednesday, May 15th. Mizuho reissued a neutral rating and set a $5.50 price objective on shares of NIO in a research report on Monday, March 25th. Finally, Macquarie initiated coverage on NIO in a research report on Monday, April 15th. They issued a neutral rating and a $5.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $8.43.
Get Our Latest Analysis on NIO
NIO Stock Performance
NYSE:NIO opened at $4.91 on Tuesday. 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 has a fifty-two week low of $3.61 and a fifty-two week high of $16.18. The company has a 50 day simple moving average of $4.76 and a two-hundred day simple moving average of $6.12. The company has a market capitalization of $8.43 billion, a PE ratio of -2.80 and a beta of 1.92.
NIO (NYSE:NIO – Get Free Report) last announced its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $18.16 billion. During the same period in the prior year, the business earned ($0.51) EPS. NIO’s quarterly revenue was up 6.5% on a year-over-year basis. Research analysts anticipate that NIO will post -1.26 earnings per share for the current year.
Institutional Investors Weigh In On NIO
Several institutional investors have recently bought and sold shares of NIO. Hsbc Holdings PLC increased its stake in NIO by 238.6% in the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock valued at $64,070,000 after buying an additional 4,976,403 shares during the last quarter. Electron Capital Partners LLC lifted its holdings in NIO by 5.6% during the fourth quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock worth $40,180,000 after acquiring an additional 235,521 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in NIO by 28.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after purchasing an additional 535,400 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in NIO by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after purchasing an additional 439,474 shares during the period. Finally, Royal London Asset Management Ltd. increased its position in shares of NIO by 11.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 2,308,000 shares of the company’s stock valued at $20,853,000 after purchasing an additional 245,800 shares during the last quarter. 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.
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