NIO (NYSE:NIO) Price Target Lowered to $3.50 at Mizuho

NIO (NYSE:NIO - Get Free Report) had its target price lowered by stock analysts at Mizuho from $4.20 to $3.50 in a report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Mizuho's price target points to a potential downside of 2.78% from the stock's previous close.

A number of other research firms also recently issued reports on NIO. Cfra Research upgraded shares of NIO to a "hold" rating in a report on Friday, March 21st. Citigroup dropped their price objective on NIO from $8.90 to $8.10 and set a "buy" rating for the company in a report on Monday, March 24th. Hsbc Global Res lowered NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. HSBC downgraded NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $5.05.

NIO Trading Up 2.3 %

NIO traded up $0.08 during trading on Thursday, hitting $3.60. The company's stock had a trading volume of 31,321,917 shares, compared to its average volume of 56,342,189. NIO has a twelve month low of $3.02 and a twelve month high of $7.71. The stock has a market cap of $7.51 billion, a PE ratio of -2.38 and a beta of 1.74. The firm's 50 day moving average price is $4.23 and its 200-day moving average price is $4.67. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

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NIO (NYSE:NIO - Get Free Report) last released its earnings results 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 business had revenue of $2.70 billion for 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 business's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted ($2.81) earnings per share. On average, analysts expect that NIO will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bridgewater Associates LP lifted its position in shares of NIO by 28.6% during the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock worth $5,170,000 after purchasing an additional 263,338 shares in the last quarter. SG Americas Securities LLC boosted its position in NIO by 104.8% in the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock valued at $5,018,000 after buying an additional 589,082 shares during the last quarter. Swedbank AB grew its stake in shares of NIO by 0.8% during the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company's stock valued at $4,657,000 after acquiring an additional 9,000 shares in the last quarter. SIH Partners LLLP increased its position in shares of NIO by 23.1% during the fourth quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock worth $4,071,000 after acquiring an additional 175,000 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of NIO in the fourth quarter worth about $3,305,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.