NIO (NYSE:NIO) Now Covered by Analysts at Macquarie

Macquarie initiated coverage on shares of NIO (NYSE:NIO) in a research report released on Monday, Marketbeat.com reports. The firm issued a neutral rating and a $5.00 price objective on the stock.

Other analysts have also issued reports about the stock. Jefferies Financial Group reduced their price target on shares of NIO from $8.30 to $5.90 and set a hold rating for the company in a research note on Wednesday, March 6th. Mizuho reiterated a neutral rating and issued a $5.50 price target on shares of NIO in a research note on Monday, March 25th. JPMorgan Chase & Co. reduced their price target on shares of NIO from $5.00 to $4.80 and set an underweight rating for the company in a research note on Wednesday, March 6th. Barclays reiterated an underweight rating and issued a $4.00 price target (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Finally, Sanford C. Bernstein reduced their price target on shares of NIO from $7.50 to $5.50 and set a market perform rating for the company in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $8.43.

NIO Stock Up 2.0 %

NYSE:NIO opened at $3.99 on Monday. The firm has a market cap of $6.86 billion, a P/E ratio of -2.28 and a beta of 1.93. 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 $3.71 and a fifty-two week high of $16.18. The firm has a 50-day simple moving average of $5.21 and a two-hundred day simple moving average of $6.74.

NIO (NYSE:NIO) last released its quarterly earnings data 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). The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $18.16 billion. NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.51) earnings per share. Analysts predict that NIO will post -1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in NIO by 352.5% during the third quarter. SG Americas Securities LLC now owns 630,470 shares of the company’s stock valued at $5,699,000 after purchasing an additional 491,140 shares in the last quarter. Electron Capital Partners LLC purchased a new position in shares of NIO in the third quarter worth $37,918,000. Top Ace Asset Management Ltd purchased a new position in shares of NIO in the third quarter worth $1,888,000. Banque Pictet & Cie SA purchased a new position in shares of NIO in the third quarter worth $2,486,000. Finally, Meridian Wealth Management LLC lifted its holdings in shares of NIO by 503.8% in the third quarter. Meridian Wealth Management LLC now owns 89,849 shares of the company’s stock worth $812,000 after buying an additional 74,968 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.