Mizuho Lowers NIO (NYSE:NIO) Price Target to $4.20

NIO (NYSE:NIO) had its price target lowered by Mizuho from $5.00 to $4.20 in a report published on Monday,Benzinga reports. Mizuho currently has a neutral rating on the stock.

A number of other research firms have also recently weighed in on NIO. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. HSBC lowered shares of NIO from a “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 dropped their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Two analysts have 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.00.

NIO Stock Down 3.8 %

Shares of NIO opened at $4.23 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 stock’s 50-day moving average price is $4.44 and its 200-day moving average price is $4.86. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of -2.80 and a beta of 1.81.

NIO (NYSE:NIO) last posted 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 firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.81) earnings per share. On average, sell-side analysts predict that NIO will post -1.43 EPS for the current year.

Institutional Trading of NIO

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