NIO Inc. (NYSE:NIO) Stock Rated “Hold” by Sell-Side Brokerages

NIO Inc. (NYSE:NIO) has been given an average recommendation of “Hold” by the fifteen analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $5.87.

A number of brokerages recently weighed in on NIO. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $6.10 target price on shares of NIO in a research note on Friday, September 4th. Sanford C. Bernstein dropped their target price on shares of NIO from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, September 2nd. Zacks Research cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada lowered shares of NIO to a “sector perform” rating in a report on Thursday, September 3rd. Finally, Citigroup reissued a “buy” rating on shares of NIO in a report on Tuesday, September 1st.

NIO Price Performance

Shares of NYSE NIO opened at $3.42 on Monday. The stock’s 50-day simple moving average is $3.89 and its two-hundred day simple moving average is $4.94. NIO has a twelve month low of $3.36 and a twelve month high of $7.54. The firm has a market capitalization of $8.48 billion, a P/E ratio of -12.65 and a beta of 0.92. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 2.11.

NIO (NYSE:NIO) last issued its quarterly earnings results on Saturday, August 15th. The company reported $0.00 earnings per share (EPS) for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%. The firm had revenue of $4.73 billion during the quarter. As a group, equities analysts anticipate that NIO will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Bank of America Corp DE increased its position in shares of NIO by 99.0% during the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock valued at $85,800,000 after purchasing an additional 7,079,903 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of NIO by 70.2% during the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock valued at $87,146,000 after buying an additional 5,962,731 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in NIO in the 2nd quarter worth approximately $19,008,000. SG Americas Securities LLC lifted its position in NIO by 67.2% in the 1st quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company’s stock worth $30,314,000 after buying an additional 2,020,754 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in NIO by 651.5% in the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock worth $8,051,000 after buying an additional 1,387,656 shares during the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

About NIO

NIO Inc is a Chinese technology and electric vehicle company headquartered in Shanghai. Founded in 2014, the company designs, develops and sells smart electric vehicles, including SUVs, sedans and other passenger vehicles. Its product portfolio has included models such as the ES6, ES7, ES8, ET5, ET5T and ET7, with model names varying by market.

In addition to vehicle sales, NIO provides related services and technologies, including battery-swapping stations, charging services, mobile charging, digital connectivity and driver-assistance features.