Mizuho Lowers NIO (NYSE:NIO) Price Target to $3.50

NIO (NYSE:NIO) had its price target cut by stock analysts at Mizuho from $4.20 to $3.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s target price suggests a potential upside of 0.06% from the stock’s current price.

Several other brokerages have also recently issued reports on NIO. Cfra Research raised shares of NIO to a “hold” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Citigroup reduced their price objective on NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a research report on Monday, March 24th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. One equities research analyst has 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.com, NIO currently has an average rating of “Hold” and an average target price of $5.05.

NIO Trading Up 6.6 %

Shares of NYSE:NIO opened at $3.50 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of -2.32 and a beta of 1.74. NIO has a 1 year low of $3.02 and a 1 year high of $7.71. The business’s 50 day moving average price is $4.23 and its 200-day moving average price is $4.67.

NIO (NYSE:NIO) 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). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter last year, the business earned ($2.81) EPS. The business’s revenue was up 15.2% compared to the same quarter last year. On average, equities research analysts forecast that NIO will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Several institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after buying an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after purchasing an additional 4,332 shares during the last quarter. Callan Family Office LLC acquired a new position in NIO in the fourth quarter valued at approximately $44,000. Sava Infond d.o.o. purchased a new position in NIO in the fourth quarter valued at approximately $44,000. Finally, Trilogy Capital Inc. acquired a new stake in NIO during the fourth quarter worth approximately $45,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.