Citigroup Lowers NIO (NYSE:NIO) Price Target to $8.10

NIO (NYSE:NIO - Free Report) had its target price cut by Citigroup from $8.90 to $8.10 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

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

NIO Stock Down 5.6 %

Shares of NIO stock traded down $0.24 during trading on Monday, hitting $3.99. The company's stock had a trading volume of 156,463,122 shares, compared to its average volume of 55,451,544. NIO has a 52 week low of $3.61 and a 52 week high of $7.71. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The company has a fifty day simple moving average of $4.44 and a two-hundred day simple moving average of $4.85. The company has a market capitalization of $8.32 billion, a PE ratio of -2.64 and a beta of 1.81.

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NIO (NYSE:NIO - Get Free Report) last announced its earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.14). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business 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 business posted ($2.81) EPS. NIO's revenue for the quarter was up 15.2% on a year-over-year basis. Equities research analysts predict that NIO will post -1.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank boosted its holdings in shares of NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock worth $883,000 after buying an additional 132,237 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in NIO in the fourth quarter worth approximately $1,360,000. AlphaStar Capital Management LLC purchased a new position in shares of NIO during the 4th quarter worth $537,000. FMR LLC grew 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 acquiring an additional 5,296,601 shares during the period. Finally, Main Management ETF Advisors LLC purchased a new stake in shares of NIO in the 3rd quarter worth $1,327,000. 48.55% of the stock is 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.