NIO (NYSE:NIO) Price Target Cut to $4.20 by Analysts at Mizuho

NIO (NYSE:NIO) had its target price reduced by investment analysts at Mizuho from $5.00 to $4.20 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s price target indicates a potential downside of 4.00% from the company’s previous close.

Several other brokerages also recently commented on NIO. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and reduced their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.84.

NIO Trading Down 2.8 %

Shares of NIO stock traded down $0.13 during trading on Monday, hitting $4.38. The company’s stock had a trading volume of 17,537,491 shares, compared to its average volume of 55,167,315. 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 52 week low of $3.61 and a 52 week high of $7.71. The stock has a 50-day moving average price of $4.43 and a two-hundred day moving average price of $4.87. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of -2.91 and a beta of 1.81.

NIO (NYSE:NIO) last posted its quarterly earnings data 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 analyst estimates of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned ($2.81) earnings per share. Equities research analysts anticipate that NIO will post -1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Several large investors have recently added to or reduced their stakes in NIO. Toronto Dominion Bank boosted its position in NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after purchasing an additional 132,237 shares during the period. SBI Securities Co. Ltd. bought a new stake in NIO during the 4th quarter valued at $1,360,000. AlphaStar Capital Management LLC purchased a new stake in shares of NIO during the fourth quarter worth $537,000. FMR LLC boosted its holdings in shares of NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after acquiring an additional 5,296,601 shares during the period. Finally, Main Management ETF Advisors LLC purchased a new position in shares of NIO in the third quarter valued at $1,327,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.