NIO (NYSE:NIO) Lifted to “Strong-Buy” at Daiwa America

Daiwa America upgraded shares of NIO (NYSE:NIO) to a strong-buy rating in a report released on Monday morning, Zacks.com reports.

A number of other equities analysts have also issued reports on NIO. JPMorgan Chase & Co. upgraded shares of NIO from a neutral rating to an overweight rating and upped their target price for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Bank of America increased their price objective on NIO from $5.00 to $5.30 and gave the company a neutral rating in a research report on Thursday, September 5th. Citigroup dropped their target price on NIO from $8.50 to $7.00 and set a buy rating for the company in a research report on Wednesday, September 4th. Finally, Wolfe Research started coverage on NIO in a report on Thursday, September 5th. They issued a peer perform rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $5.93.

NIO Stock Down 6.9 %

Shares of NYSE NIO opened at $6.72 on Monday. The business has a fifty day moving average of $4.73 and a two-hundred day moving average of $4.73. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. NIO has a 52-week low of $3.61 and a 52-week high of $9.57. The stock has a market cap of $11.54 billion, a PE ratio of -3.97 and a beta of 1.82.

NIO (NYSE:NIO) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion for the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The company’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.51) earnings per share. As a group, equities research analysts expect that NIO will post -1.37 earnings per share for the current fiscal year.

Institutional Trading of NIO

A number of hedge funds have recently modified their holdings of NIO. Point72 Asset Management L.P. grew its holdings in shares of NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after buying an additional 4,018,659 shares during the period. Quadrature Capital Ltd acquired a new stake in NIO in the fourth quarter valued at $12,361,000. Swedbank AB acquired a new stake in shares of NIO in the first quarter valued at approximately $5,343,000. AMF Tjanstepension AB lifted its stake in shares of NIO by 132.4% during the 1st quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock worth $7,030,000 after buying an additional 889,900 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of NIO by 64.6% during the first quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock worth $8,530,000 after acquiring an additional 744,067 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.