NIO (NYSE:NIO) Upgraded to Overweight by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of NIO (NYSE:NIO) from a neutral rating to an overweight rating in a report issued on Friday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $8.00 price objective on the stock, up from their previous price objective of $5.30.

A number of other research analysts have also recently weighed in on NIO. Wolfe Research initiated coverage on NIO in a research report on Thursday, September 5th. They issued a peer perform rating for the company. Citigroup dropped their target price on shares of NIO from $8.50 to $7.00 and set a buy rating for the company in a report on Wednesday, September 4th. Finally, Bank of America upped their price target on shares of NIO from $5.00 to $5.30 and gave the company a neutral rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, NIO currently has a consensus rating of Hold and a consensus price target of $5.93.

NIO Stock Up 10.9 %

NIO stock opened at $5.57 on Friday. NIO has a 52 week low of $3.61 and a 52 week high of $10.88. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The company has a market cap of $9.57 billion, a P/E ratio of -3.29 and a beta of 1.82. The company’s 50-day moving average price is $4.29 and its 200 day moving average price is $4.69.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The business 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 company’s quarterly revenue was up 98.9% on a year-over-year basis. On average, research analysts expect that NIO will post -1.41 earnings per share for the current fiscal year.

Institutional Trading of NIO

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new stake in shares of NIO during the second quarter worth $25,000. Newbridge Financial Services Group Inc. boosted its stake in NIO by 272.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after buying an additional 6,875 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of NIO during the 4th quarter valued at about $42,000. BSW Wealth Partners purchased a new position in shares of NIO during the 1st quarter worth about $46,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of NIO by 3,333.3% during the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock worth $46,000 after acquiring an additional 10,000 shares during the period. 48.55% of the stock is owned by hedge funds and other institutional investors.

About NIO

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.