NIO (NYSE:NIO) Lowered to Sell Rating by The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of NIO (NYSE:NIO) from a neutral rating to a sell rating in a research report sent to investors on Monday morning, MarketBeat.com reports. The brokerage currently has $3.90 price target on the stock, down from their prior price target of $4.80.

Several other research firms have also recently commented 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. Wolfe Research assumed coverage on NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Bank of America lifted their target price on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.71.

NIO Trading Up 1.6 %

NYSE:NIO opened at $4.38 on Monday. The firm has a market capitalization of $7.53 billion, a P/E ratio of -2.91 and a beta of 1.91. The business has a 50 day simple moving average of $5.45 and a 200 day simple moving average of $4.89. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. NIO has a 12-month low of $3.61 and a 12-month high of $9.57.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.51) earnings per share. Equities research analysts predict that NIO will post -1.39 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of institutional investors and hedge funds have recently bought and sold shares of NIO. Bayesian Capital Management LP acquired a new position in shares of NIO in the 1st quarter worth approximately $185,000. B. Riley Wealth Advisors Inc. grew its position in NIO by 29.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 40,876 shares of the company’s stock worth $184,000 after buying an additional 9,375 shares during the last quarter. California State Teachers Retirement System grew its position in NIO by 12.4% in the first quarter. California State Teachers Retirement System now owns 424,836 shares of the company’s stock worth $1,912,000 after buying an additional 46,987 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of NIO by 33.2% in the first quarter. Tidal Investments LLC now owns 254,730 shares of the company’s stock valued at $1,146,000 after buying an additional 63,491 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of NIO during the 1st quarter valued at $5,343,000. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Company Profile

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.