NIO (NYSE:NIO) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of NIO (NYSE:NIO) from a sell rating to a hold rating in a research report report published on Saturday morning, Zacks.com reports.

According to Zacks, “NIO Inc. is a premium electric vehicle market. The company designs, jointly manufactures and sells smart and connected premium electric vehicles. It offers electric cars under EP9, EVE and ES8 brand names. The company operates primarily in San Jose, California; Munich, Germany and London, United Kingdom. NIO Inc. is based in Shanghai, China. “

Several other research firms have also recently weighed in on NIO. Bank of America cut shares of NIO from a neutral rating to an underperform rating and decreased their price objective for the company from $6.20 to $3.00 in a report on Tuesday, May 28th. UBS Group decreased their price objective on shares of NIO from $7.00 to $5.50 and set a neutral rating for the company in a report on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. NIO has a consensus rating of Hold and an average price target of $7.27.

Shares of NYSE NIO opened at $3.15 on Friday. The business has a 50 day moving average price of $3.22. The company has a market capitalization of $3.21 billion and a P/E ratio of -0.31. NIO has a 52-week low of $2.35 and a 52-week high of $13.80. The company has a current ratio of 1.49, a quick ratio of 1.34 and a debt-to-equity ratio of 3.73.

NIO (NYSE:NIO) last issued its earnings results on Tuesday, May 28th. The company reported ($2.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($1.92). The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.41 billion. The business’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities research analysts forecast that NIO will post -1.36 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Sigma Planning Corp purchased a new position in shares of NIO during the second quarter valued at approximately $27,000. World Asset Management Inc purchased a new position in shares of NIO during the second quarter valued at approximately $28,000. Psagot Investment House Ltd. purchased a new position in shares of NIO during the first quarter valued at approximately $29,000. Aries Wealth Management purchased a new position in shares of NIO during the second quarter valued at approximately $33,000. Finally, Barclays PLC purchased a new position in shares of NIO during the fourth quarter valued at approximately $36,000. 28.10% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for NIO (NYSE:NIO)

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