NIO Inc. (NYSE:NIO) Stock Now Rated “Hold” by Wall Street Analysts

Shares of NIO Inc. (NYSE:NIO) have been assigned an average rating of “Hold” from the fifteen analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $5.87.

Several brokerages have issued reports 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. Citigroup reaffirmed a “buy” rating on shares of NIO in a research note on Tuesday, September 1st. Freedom Broker cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Sanford C. Bernstein decreased their price target on shares of NIO from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $4.50 in a report on Wednesday, September 2nd.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently made changes to their positions in NIO. Persistent Asset Partners Ltd bought a new position in NIO in the 2nd quarter valued at approximately $34,000. Merkkuri Wealth Advisors LLC bought a new position in shares of NIO during the first quarter valued at $41,000. Global Retirement Partners LLC purchased a new stake in shares of NIO during the second quarter valued at $34,000. Wellington Altus USA Inc. purchased a new stake in shares of NIO during the second quarter valued at $35,000. Finally, EverSource Wealth Advisors LLC increased its holdings in NIO by 120.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock worth $48,000 after buying an additional 4,383 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

NIO Trading Down 2.4%

Shares of NYSE:NIO opened at $3.42 on Monday. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.02 and a quick ratio of 0.89. NIO has a one year low of $3.36 and a one year high of $7.54. The company’s fifty day moving average price is $3.89 and its 200-day moving average price is $4.94.

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

NIO Company Profile

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.