NIO (NYSE:NIO) Given New $3.50 Price Target at Mizuho

NIO (NYSE:NIO) had its price target trimmed by Mizuho from $4.20 to $3.50 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also commented on the stock. Citigroup cut their price target on shares of NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a report on Monday, March 24th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. HSBC cut NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Finally, Cfra Research raised shares of NIO to a “hold” rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.05.

NIO Trading Down 1.4 %

NYSE NIO opened at $3.27 on Thursday. The company has a market cap of $6.81 billion, a price-to-earnings ratio of -2.16 and a beta of 1.74. NIO has a twelve month low of $3.02 and a twelve month high of $7.71. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The business’s fifty day moving average is $4.25 and its 200 day moving average is $4.69.

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

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. lifted its position in shares of NIO by 138.5% during the 4th 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 period. Jones Financial Companies Lllp increased 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 in the last quarter. Sava Infond d.o.o. acquired a new position in shares of NIO during the fourth quarter valued at about $44,000. Callan Family Office LLC bought a new position in shares of NIO during the 4th quarter worth about $44,000. Finally, Trilogy Capital Inc. acquired a new stake in shares of NIO in the 4th quarter valued at about $45,000. 48.55% of the stock is currently owned by institutional investors.

About NIO

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.