NIO (NYSE:NIO) PT Lowered to $7.00 at Citigroup

NIO (NYSE:NIO) had its price objective cut by Citigroup from $8.50 to $7.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

NIO has been the topic of a number of other research reports. Bank of America boosted their price objective on shares of NIO from $5.90 to $6.00 and gave the company a neutral rating in a research report on Friday, June 7th. JPMorgan Chase & Co. upgraded shares of NIO from an underweight rating to a neutral rating and boosted their price objective for the company from $4.80 to $5.40 in a research report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NIO presently has an average rating of Hold and a consensus target price of $5.93.

NIO Stock Performance

NIO stock opened at $5.03 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.15 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $8.65 billion, a PE ratio of -2.98 and a beta of 1.82. The firm has a fifty day simple moving average of $4.27 and a two-hundred day simple moving average of $4.71. NIO has a twelve month low of $3.61 and a twelve month high of $10.88.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.21). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The firm had revenue of $17.45 billion for the quarter, compared to analysts’ expectations of $17.49 billion. During the same quarter in the previous year, the company earned ($0.51) earnings per share. The company’s revenue for the quarter was up 98.9% compared to the same quarter last year. Research analysts expect that NIO will post -1.43 EPS for the current year.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently modified their holdings of NIO. Oppenheimer & Co. Inc. grew its holdings in NIO by 2.5% in the first quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock worth $371,000 after purchasing an additional 2,000 shares during the period. Westwood Holdings Group Inc. grew its holdings in NIO by 13.9% in the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after purchasing an additional 2,038 shares during the period. Avantax Advisory Services Inc. grew its holdings in NIO by 11.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company’s stock worth $181,000 after purchasing an additional 2,092 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings in NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after purchasing an additional 2,651 shares during the period. Finally, Cantor Fitzgerald L. P. grew its holdings in NIO by 23.0% in the fourth quarter. Cantor Fitzgerald L. P. now owns 14,548 shares of the company’s stock worth $132,000 after purchasing an additional 2,719 shares during the period. Hedge funds and other institutional investors 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.