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

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

A number of other equities research analysts have also weighed in on NIO. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Mizuho cut their target price on NIO from $5.00 to $4.20 and set a “neutral” rating on the stock in a research report on Monday. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.00.

NIO Trading Down 2.6 %

NYSE NIO opened at $4.39 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. NIO has a 52 week low of $3.61 and a 52 week high of $7.71. The business has a 50 day moving average price of $4.43 and a 200-day moving average price of $4.87. The company has a market cap of $9.15 billion, a price-to-earnings ratio of -2.90 and a beta of 1.81.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NIO. Principal Financial Group Inc. boosted its holdings in shares of NIO by 140.2% in the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock worth $502,000 after buying an additional 43,839 shares during the last quarter. Avior Wealth Management LLC raised its position in NIO by 106.1% in the third quarter. Avior Wealth Management LLC now owns 14,588 shares of the company’s stock worth $97,000 after acquiring an additional 7,510 shares during the period. Advisors Asset Management Inc. boosted its stake in NIO by 71.6% in the third quarter. Advisors Asset Management Inc. now owns 82,179 shares of the company’s stock valued at $549,000 after acquiring an additional 34,299 shares during the last quarter. DRW Securities LLC bought a new position in shares of NIO during the 3rd quarter valued at approximately $140,000. Finally, FMR LLC increased its stake in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Institutional investors 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.