NIO (NYSE:NIO) Price Target Lowered to $8.10 at Citigroup

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

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

NIO Price Performance

NIO stock opened at $4.23 on Monday. NIO has a 52 week low of $3.61 and a 52 week 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 stock has a market cap of $8.82 billion, a price-to-earnings ratio of -2.80 and a beta of 1.81. The business has a 50-day simple moving average of $4.44 and a 200 day simple moving average of $4.86.

NIO (NYSE:NIO) last announced its earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm’s revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the firm posted ($2.81) earnings per share. On average, research analysts forecast that NIO will post -1.43 earnings per share 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 company. Shufro Rose & Co. LLC purchased a new position in shares of NIO in the fourth quarter worth approximately $65,000. Vident Advisory LLC raised its position in NIO by 60.6% in the fourth quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock worth $235,000 after acquiring an additional 20,349 shares during the period. Vienna Asset Management LLC purchased a new position in shares of NIO during the 4th quarter worth $100,000. Laird Norton Wetherby Trust Company LLC bought a new stake in shares of NIO during the 4th quarter valued at $93,000. Finally, Laird Norton Wetherby Wealth Management LLC raised its holdings in NIO by 15.1% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock worth $290,000 after purchasing an additional 8,746 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.