Mizuho Cuts NIO (NYSE:NIO) Price Target to $4.20

NIO (NYSE:NIO) had its target price decreased by analysts at Mizuho from $5.00 to $4.20 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price target indicates a potential downside of 4.00% from the stock’s previous close.

NIO has been the subject of several other reports. JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and cut their target price for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and cut their price objective for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, NIO presently has an average rating of “Hold” and a consensus price target of $4.84.

NIO Stock Down 2.8 %

NIO stock traded down $0.13 during midday trading on Monday, hitting $4.38. The company’s stock had a trading volume of 17,537,491 shares, compared to its average volume of 55,167,315. The company’s fifty day moving average price is $4.43 and its 200 day moving average price is $4.87. NIO has a twelve month low of $3.61 and a twelve month high of $7.71. 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 stock has a market capitalization of $9.13 billion, a P/E ratio of -2.91 and a beta of 1.81.

NIO (NYSE:NIO) last released its quarterly earnings data on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The company had revenue of $2.70 billion during 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 company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.81) EPS. As a group, equities research analysts predict that NIO will post -1.43 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of hedge funds have recently made changes to their positions in NIO. FMR LLC boosted its position in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of NIO during the 4th quarter valued at $3,305,000. Point72 Hong Kong Ltd bought a new stake in NIO during the 3rd quarter worth $4,879,000. SG Americas Securities LLC grew its position in NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after acquiring an additional 589,082 shares during the last quarter. Finally, Quadrature Capital Ltd increased its holdings in NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after purchasing an additional 538,907 shares in the last quarter. 48.55% of the stock is currently 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.