NIO (NYSE:NIO) Price Target Cut to $8.10 by Analysts at Citigroup

NIO (NYSE:NIO) had its price objective trimmed by Citigroup from $8.90 to $8.10 in a research note published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

NIO has been the topic of several other reports. Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Mizuho reduced their price target on NIO from $5.00 to $4.20 and set a “neutral” rating on the stock in a research report on Monday. Finally, HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned 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 price target of $5.00.

NIO Stock Performance

Shares of NIO stock opened at $4.39 on Monday. The company’s 50 day moving average price is $4.43 and its two-hundred day moving average price is $4.87. The firm has a market capitalization of $9.15 billion, a P/E ratio of -2.90 and a beta of 1.81. 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 has a fifty-two week low of $3.61 and a fifty-two week high of $7.71.

NIO (NYSE:NIO) last issued its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the prior year, the firm earned ($2.81) EPS. The company’s revenue was up 15.2% on a year-over-year basis. On average, equities analysts forecast that NIO will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Large investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after buying an additional 5,296,601 shares during the period. Quadrature Capital Ltd lifted its position in shares of NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after acquiring an additional 538,907 shares during the period. Bridgewater Associates LP lifted its position in shares of NIO by 28.6% during the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company’s stock valued at $5,170,000 after acquiring an additional 263,338 shares during the period. SG Americas Securities LLC boosted its stake in NIO by 104.8% during the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after acquiring an additional 589,082 shares in the last quarter. Finally, Swedbank AB grew its holdings in NIO by 0.8% in the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock worth $4,657,000 after purchasing an additional 9,000 shares during the period. Institutional investors and hedge funds own 48.55% 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.