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. “
Other analysts have also issued reports about the company. Bank of America lowered NIO from a neutral rating to an underperform rating and dropped their target price for the stock from $6.20 to $3.00 in a report on Tuesday, May 28th. UBS Group dropped their target price on NIO from $7.00 to $5.50 and set a neutral rating on the stock in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. NIO has an average rating of Hold and a consensus price target of $7.27.
NIO stock opened at $2.92 on Tuesday. The firm has a market cap of $3.00 billion and a price-to-earnings ratio of -0.29. NIO has a 52 week low of $2.35 and a 52 week high of $13.80. The business’s 50-day moving average price is $3.27 and its 200 day moving average price is $4.70. The company has a quick ratio of 1.34, a current ratio of 1.49 and a debt-to-equity ratio of 3.73.
NIO (NYSE:NIO) last posted its earnings results on Tuesday, May 28th. The company reported ($2.42) EPS for the quarter, missing the consensus estimate of ($0.50) by ($1.92). The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.41 billion. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts expect that NIO will post -1.36 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Maverick Capital Ltd. acquired a new stake in shares of NIO in the second quarter valued at approximately $404,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of NIO in the second quarter valued at approximately $3,388,000. Tenzing Global Management LLC increased its holdings in shares of NIO by 6.7% in the second quarter. Tenzing Global Management LLC now owns 80,000 shares of the company’s stock valued at $204,000 after purchasing an additional 5,000 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in NIO during the second quarter worth $6,786,000. Finally, Pictet Asset Management Ltd. acquired a new stake in NIO during the second quarter worth $2,348,000. Institutional investors own 31.30% of the company’s stock.
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.
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