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

NIO (NYSE:NIO) had its price target decreased by equities research analysts at Citigroup from $8.90 to $8.10 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 85.14% from the company’s current price.

Several other 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 stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Mizuho decreased their price objective on NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a research report on Monday. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.00.

NIO Trading Down 2.8 %

Shares of NIO stock traded down $0.13 on Monday, reaching $4.38. The company had a trading volume of 21,446,121 shares, compared to its average volume of 54,931,875. The stock has a market cap of $9.13 billion, a PE ratio of -2.90 and a beta of 1.81. The company has a 50-day moving average of $4.43 and a 200-day moving average of $4.87. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. NIO has a 12 month low of $3.61 and a 12 month high of $7.71.

NIO (NYSE:NIO) last issued its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 33.41% and a negative return on equity of 113.83%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.81) EPS. On average, equities analysts forecast that NIO will post -1.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NIO. 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 worth $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd raised its holdings in shares of NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after buying an additional 538,907 shares in the last quarter. Bridgewater Associates LP lifted its position in shares of NIO by 28.6% during the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company’s stock worth $5,170,000 after buying an additional 263,338 shares during the last quarter. SG Americas Securities LLC boosted its stake in NIO by 104.8% in the fourth 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 in the last quarter. Finally, Swedbank AB grew its position in NIO by 0.8% in 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 during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.