NIO (NYSE:NIO) Cut to “Sell” at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of NIO (NYSE:NIO) from a neutral rating to a sell rating in a research report report published on Monday, Marketbeat Ratings reports. The Goldman Sachs Group currently has $3.90 price objective on the stock, down from their prior price objective of $4.80.

A number of other research firms have also weighed in on NIO. Citigroup decreased their target price on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Wolfe Research started coverage on shares of NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Bank of America increased their price target on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, Daiwa America upgraded 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 issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.71.

NIO Stock Performance

The stock’s 50-day moving average price is $5.44 and its two-hundred day moving average price is $4.88. NIO has a 1 year low of $3.61 and a 1 year high of $9.57. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of -2.90 and a beta of 1.91. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

NIO (NYSE:NIO) last issued 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). The business had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. NIO’s revenue was up 98.9% on a year-over-year basis. During the same period last year, the business posted ($0.51) EPS. On average, research analysts anticipate that NIO will post -1.39 EPS for the current fiscal year.

Institutional Trading of NIO

A number of institutional investors have recently modified their holdings of the stock. Ridgewood Investments LLC acquired a new stake in shares of NIO during the 2nd quarter worth approximately $25,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of NIO in the 3rd quarter valued at $32,000. Baader Bank Aktiengesellschaft bought a new position in shares of NIO in the 2nd quarter valued at $53,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of NIO by 22.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after buying an additional 2,651 shares in the last quarter. Finally, Caprock Group LLC bought a new stake in shares of NIO during the 2nd quarter worth $63,000. 48.55% of the stock is currently owned by institutional investors.

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.