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

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

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. HSBC lowered NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Citigroup dropped their price objective 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. Finally, Cfra Research upgraded shares of NIO to a “hold” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIO currently has an average rating of “Hold” and an average target price of $5.05.

NIO Trading Down 1.4 %

NYSE:NIO opened at $3.27 on Thursday. 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 one year low of $3.02 and a one year high of $7.71. The company has a market cap of $6.81 billion, a PE ratio of -2.16 and a beta of 1.74. The firm has a 50-day moving average of $4.25 and a 200-day moving average of $4.69.

NIO (NYSE:NIO) last issued its quarterly earnings data on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the prior year, the firm posted ($2.81) earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities research analysts expect that NIO will post -1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank raised its position in shares of NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after buying an additional 132,237 shares in the last quarter. Sanctuary Advisors LLC increased its stake in NIO by 63.1% in the third quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company’s stock valued at $553,000 after acquiring an additional 32,069 shares during the last quarter. Tidal Investments LLC raised its position in NIO by 2.4% during the third quarter. Tidal Investments LLC now owns 280,140 shares of the company’s stock valued at $1,871,000 after purchasing an additional 6,545 shares in the last quarter. Garden State Investment Advisory Services LLC bought a new stake in NIO during the third quarter worth about $374,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of NIO by 140.2% in the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock worth $502,000 after purchasing an additional 43,839 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other 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.