(Marketbeat) – NIO (NYSE:NIO) was upgraded by research analysts at UBS Group from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
Several other equities analysts have also recently issued reports on the company. Bank of America reaffirmed a “buy” rating and issued a $18.00 price objective on shares of NIO in a research report on Wednesday, August 12th. Piper Sandler reiterated a “neutral” rating and set a $14.00 target price (up from $4.00) on shares of NIO in a research note on Wednesday, August 12th. Zacks Investment Research upgraded shares of NIO from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Tuesday, August 18th.
JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $2.00 to $3.50 in a research note on Wednesday, May 27th. Finally, began coverage on shares of NIO in a research note on Tuesday, June 9th. They set a “sell” rating for the company. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $7.48.
Shares of NIO opened at $14.97 on Tuesday. The business’s 50 day moving average price is $12.96 and its 200-day moving average price is $6.33. NIO has a 52 week low of $1.19 and a 52 week high of $16.44. The stock has a market cap of $14.49 billion, a P/E ratio of -13.13 and a beta of 2.61.
NIO (NYSE:NIO) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.73).
The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the prior year, the company posted ($3.11) earnings per share. The firm’s quarterly revenue was up 146.5% on a year-over-year basis. As a group, sell-side analysts forecast that NIO will post -0.73 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of NIO. NorthCoast Asset Management LLC purchased a new stake in shares of NIO in the 1st quarter worth $28,000. Gladstone Institutional Advisory LLC purchased a new stake in NIO in the 1st quarter worth $28,000. Vista Investment Management purchased a new stake in NIO in the 1st quarter worth $28,000.
Harel Insurance Investments & Financial Services Ltd. purchased a new stake in NIO in the 1st quarter worth $29,000. Finally, Creative Financial Designs Inc. ADV purchased a new stake in NIO in the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 31.50% of the company’s stock.
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.