The Goldman Sachs Group Upgrades NIO (NYSE:NIO) to Neutral

NIO (NYSE:NIO) was upgraded by equities researchers at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $3.80 target price on the stock, up from their prior target price of $3.70. The Goldman Sachs Group’s target price would suggest a potential upside of 10.95% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Citigroup restated a “buy” rating on shares of NIO in a research report on Monday, April 28th. Cfra Research upgraded NIO to a “hold” rating in a research report on Friday, March 21st. Barclays cut their price objective on NIO from $4.00 to $3.00 and set an “underweight” rating for the company in a research report on Wednesday, June 4th. Finally, Mizuho cut their price objective on NIO from $4.00 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NIO presently has an average rating of “Hold” and a consensus price target of $4.74.

NIO Trading Down 0.4%

Shares of NIO stock opened at $3.43 on Tuesday. NIO has a 52-week low of $3.02 and a 52-week high of $7.71. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.69 and a current ratio of 0.84. The firm has a market capitalization of $7.15 billion, a PE ratio of -2.11 and a beta of 1.62. The stock has a fifty day simple moving average of $3.79 and a two-hundred day simple moving average of $4.16.

NIO (NYSE:NIO) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.23). NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $12.46 billion. During the same quarter in the previous year, the company posted ($2.39) EPS. The company’s quarterly revenue was up 21.5% on a year-over-year basis. On average, analysts predict that NIO will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NIO. Van ECK Associates Corp lifted its holdings in shares of NIO by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 519,404 shares of the company’s stock valued at $2,265,000 after acquiring an additional 36,486 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in NIO by 27.7% in the fourth quarter. Handelsbanken Fonder AB now owns 726,014 shares of the company’s stock worth $3,165,000 after purchasing an additional 157,333 shares during the last quarter. Delap Wealth Advisory LLC bought a new stake in NIO in the fourth quarter worth about $149,000. US Bancorp DE lifted its stake in NIO by 10.6% in the fourth quarter. US Bancorp DE now owns 97,406 shares of the company’s stock worth $425,000 after purchasing an additional 9,298 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after purchasing an additional 4,332 shares during the last quarter. 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.