NIO (NYSE:NIO) PT Lowered to $48.00 at Mizuho

NIO (NYSE:NIO – Get Rating) had its price target cut by Mizuho from $55.00 to $48.00 in a research report report published on Monday morning, The Fly reports. They currently have a buy rating on the stock.

Several other research analysts have also recently commented on NIO. Citigroup decreased their target price on shares of NIO from $87.00 to $41.10 and set a buy rating for the company in a research report on Tuesday, June 21st. Morgan Stanley decreased their target price on shares of NIO from $34.00 to $31.00 and set an overweight rating for the company in a research report on Friday, June 10th. Bank of America upgraded shares of NIO from a neutral rating to a buy rating and set a $26.00 target price for the company in a research report on Monday, May 16th. Nomura reduced their price target on shares of NIO from $67.10 to $51.50 and set a buy rating for the company in a research note on Monday, March 28th. Finally, UBS Group raised shares of NIO from a neutral rating to a buy rating and reduced their price target for the stock from $42.00 to $32.00 in a research note on Monday, April 4th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $42.41.

NIO opened at $21.86 on Monday. The company has a 50-day moving average of $17.73 and a 200-day moving average of $21.99. The company has a market capitalization of $36.48 billion, a P/E ratio of -29.54 and a beta of 2.46. NIO has a 1-year low of $11.67 and a 1-year high of $55.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.93 and a current ratio of 2.02.

NIO (NYSE:NIO – Get Rating) last released its earnings results on Thursday, June 9th. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.24. NIO had a negative net margin of 19.67% and a negative return on equity of 24.99%. The company had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.86 billion. During the same quarter in the previous year, the firm earned ($0.48) EPS. The company’s revenue was up 24.2% on a year-over-year basis. As a group, sell-side analysts expect that NIO will post -0.63 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in NIO. Norges Bank acquired a new stake in NIO during the fourth quarter valued at approximately $435,592,000. Schroder Investment Management Group lifted its stake in NIO by 6,141.7% during the fourth quarter. Schroder Investment Management Group now owns 12,979,146 shares of the company’s stock valued at $411,180,000 after purchasing an additional 12,771,205 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of NIO by 2,377.8% in the 1st quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock valued at $113,704,000 after acquiring an additional 5,183,600 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of NIO by 35.2% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 9,446,164 shares of the company’s stock valued at $336,567,000 after acquiring an additional 2,458,313 shares in the last quarter. Finally, WT Asset Management Ltd purchased a new stake in shares of NIO in the 4th quarter valued at approximately $77,414,000. 42.98% of the stock is owned by institutional investors and hedge funds.

About NIO (Get Rating)

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.

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