Citigroup Cuts NIO (NYSE:NIO) Price Target to $8.10

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

Other research analysts also recently issued research reports about the company. Mizuho lowered their price objective on NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a research note on Monday. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and cut their target price for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group lowered shares of 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 report on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NIO currently has an average rating of “Hold” and a consensus target price of $5.00.

NIO Price Performance

NIO stock opened at $4.23 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. NIO has a 52 week low of $3.61 and a 52 week high of $7.71. The stock has a market capitalization of $8.82 billion, a P/E ratio of -2.80 and a beta of 1.81. The stock has a fifty day moving average of $4.44 and a 200-day moving average of $4.86.

NIO (NYSE:NIO) last issued its earnings results on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same period in the previous year, the firm posted ($2.81) EPS. The firm’s revenue was up 15.2% compared to the same quarter last year. On average, sell-side analysts expect that NIO will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after acquiring an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after purchasing an additional 4,332 shares during the last quarter. Sava Infond d.o.o. bought a new position in NIO during the fourth quarter valued at $44,000. Callan Family Office LLC purchased a new stake in NIO in the fourth quarter worth $44,000. Finally, Trilogy Capital Inc. bought a new stake in shares of NIO in the fourth quarter valued at $45,000. 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.