Citigroup Issues Pessimistic Forecast for NIO (NYSE:NIO) Stock Price

NIO (NYSE:NIO) had its price objective decreased by stock analysts at Citigroup from $8.90 to $8.10 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 84.51% from the company’s previous close.

A number of other research analysts have also weighed in on NIO. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and dropped their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. Mizuho dropped their price objective on NIO from $5.00 to $4.20 and set a “neutral” rating on the stock in a research note on Monday. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.00.

NIO Stock Performance

NIO opened at $4.39 on Monday. NIO has a 1-year low of $3.61 and a 1-year high of $7.71. The company has a market cap of $9.16 billion, a price-to-earnings ratio of -2.91 and a beta of 1.81. The company’s fifty day moving average price is $4.44 and its two-hundred day moving average price is $4.86. 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 (NYSE:NIO) last posted 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 return on equity of 113.83% and a negative net margin of 33.41%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the prior year, the company earned ($2.81) EPS. The company’s revenue was up 15.2% on a year-over-year basis. On average, analysts expect that NIO will post -1.43 EPS for the current fiscal year.

Institutional Trading of NIO

Several hedge funds have recently made changes to their positions in NIO. FMR LLC increased its holdings in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after acquiring an additional 5,296,601 shares during the last quarter. Trexquant Investment LP bought a new position in NIO during the fourth quarter worth about $3,305,000. Point72 Hong Kong Ltd purchased a new position in shares of NIO in the third quarter worth about $4,879,000. SG Americas Securities LLC raised its position in shares of 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 purchasing an additional 589,082 shares during the period. Finally, Quadrature Capital Ltd raised its position in shares of NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after purchasing an additional 538,907 shares during the period. 48.55% of the stock is currently owned by 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.