Macquarie Boosts NIO’s Outlook: A Look at the Numbers
Fintel reports that on October 28, 2024, Macquarie upgraded their outlook for NIO (OTCPK:NIOIF) from Neutral to Outperform.
Analysts Predict Significant Price Increase
As of September 25, 2024, the average one-year price target for NIO is $6.79/share. This estimate shows a range from a low of $3.74 to a high of $18.45. The average price target indicates a potential gain of 30.74% from its recent closing price of $5.19 / share.
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Positive Revenue Forecasts
NIO’s projected annual revenue stands at 131,610MM, reflecting a remarkable increase of 107.18%. However, the projected annual non-GAAP EPS is -0.21.
Fund Sentiment Remains Steady
A total of 37 funds or institutions are maintaining positions in NIO, which has not changed over the last quarter. The average weight of funds invested in NIOIF is 0.27%, marking a 20.14% increase. Over the past three months, total shares owned by institutions have risen by 5.22%, amounting to 49,908K shares.
VGTSX – Vanguard Total International Stock Index Fund Investor Shares holds 18,700K shares, constituting 0.96% ownership of NIO. This is an increase from the 17,994K shares reported previously, reflecting a growth of 3.78%. However, the firm’s allocation to NIOIF has decreased by 7.57% in the last quarter.
VEIEX – Vanguard Emerging Markets Stock Index Fund Investor Shares owns 17,429K shares, representing 0.89% ownership. Previously, they reported 17,290K shares, showing a 0.80% increase, even as their portfolio allocation in NIOIF has decreased by 8.20% last quarter.
VEU – Vanguard FTSE All-World ex-US Index Fund ETF Shares holds 2,627K shares, reflecting 0.13% ownership of NIO. This number has risen from 2,614K shares, indicating a 0.51% increase, although their allocation has decreased by 8.43% over the past quarter.
XT – iShares Exponential Technologies ETF holds 2,115K shares, which is 0.11% ownership. Their previous holdings were 2,137K shares, marking a decrease of 1.05%, along with an 11.66% drop in portfolio allocation.
IDRV – iShares Self-Driving EV and Tech ETF owns 1,739K shares, or 0.09% of NIO. Their previous total was 1,464K shares, highlighting a significant increase of 15.86% along with a 27.84% rise in portfolio allocation.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
