NIO (NYSE:NIO) Earns Neutral Rating from Analysts at Piper Jaffray Companies

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Investment analysts at Piper Jaffray Companies started coverage on shares of NIO (NYSE:NIO) in a report issued on Tuesday, The Fly reports. The brokerage set a “neutral” rating on the stock.

A number of other research analysts have also commented on NIO. Bank of America set a $2.50 price objective on NIO and gave the company a “sell” rating in a report on Tuesday, September 24th. Goldman Sachs Group cut shares of NIO from a “buy” rating to a “neutral” rating and decreased their price target for the company from $9.76 to $1.47 in a report on Friday, October 4th. China Renaissance Securities started coverage on NIO in a research report on Thursday, September 26th. They issued a “hold” rating and a $2.00 price target on the stock. Zacks Investment Research cut NIO from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley downgraded NIO from an “overweight” rating to an “equal” rating and decreased their target price for the company from $3.50 to $2.40 in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $4.05.

Shares of NYSE:NIO opened at $2.44 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.80 and a debt-to-equity ratio of 3.73. The stock has a market capitalization of $2.33 billion, a PE ratio of -0.24 and a beta of 2.40. NIO has a 1 year low of $1.19 and a 1 year high of $10.64. The firm has a fifty day moving average price of $1.80 and a 200 day moving average price of $2.68.

NIO (NYSE:NIO) last posted its earnings results on Tuesday, September 24th. The company reported ($3.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($2.65). NIO had a negative net margin of 152.51% and a negative return on equity of 107.06%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the business earned ($57.82) earnings per share. NIO’s quarterly revenue was up 3180.2% on a year-over-year basis. On average, sell-side analysts forecast that NIO will post -1.61 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. BlackRock Inc. grew its stake in shares of NIO by 12,518.0% in the 2nd quarter. BlackRock Inc. now owns 29,141,871 shares of the company’s stock valued at $74,312,000 after purchasing an additional 28,910,916 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of NIO by 672.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 220,959 shares of the company’s stock worth $345,000 after buying an additional 192,359 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of NIO by 388.0% in the 2nd quarter. Bank of America Corp DE now owns 3,780,383 shares of the company’s stock worth $9,639,000 after buying an additional 3,005,720 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of NIO during the 2nd quarter worth approximately $4,450,000. Finally, Comerica Bank bought a new position in shares of NIO during the 3rd quarter worth approximately $75,000. 32.37% of the stock is currently owned by 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.

See Also: Market Capitalization

The Fly

Analyst Recommendations for NIO (NYSE:NIO)

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