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

The Goldman Sachs Group cut shares of NIO (NYSE:NIO) from a neutral rating to a sell rating in a research note released on Monday morning, Marketbeat.com reports. The brokerage currently has $3.90 price objective on the stock, down from their prior price objective of $4.80.

Other equities analysts also recently issued reports about the company. Bank of America upped their target price on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and cut their target price for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and upped their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. Citigroup lowered their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, Daiwa America raised shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.71.

NIO Price Performance

NYSE NIO opened at $4.67 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock’s fifty day moving average price is $5.49 and its 200 day moving average price is $4.90. NIO has a 1 year low of $3.61 and a 1 year high of $9.57. The company has a market cap of $8.03 billion, a price-to-earnings ratio of -3.09 and a beta of 1.91.

NIO (NYSE:NIO) last released its 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). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the prior year, the firm earned ($0.51) EPS. The firm’s revenue was up 98.9% on a year-over-year basis. As a group, equities research analysts forecast that NIO will post -1.39 earnings per share for the current year.

Institutional Investors Weigh In On NIO

Hedge funds have recently modified their holdings of the company. Westwood Holdings Group Inc. lifted its stake in NIO by 13.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after buying an additional 2,038 shares in the last quarter. Ballentine Partners LLC lifted its stake in NIO by 11.5% in the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after buying an additional 2,482 shares in the last quarter. Atomi Financial Group Inc. lifted its stake in NIO by 15.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock valued at $129,000 after buying an additional 2,588 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in NIO by 22.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after buying an additional 2,651 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in NIO by 4.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 63,093 shares of the company’s stock valued at $262,000 after buying an additional 2,915 shares in the last quarter. 48.55% 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.