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

NIO (NYSE:NIO) had its price objective lowered by Mizuho from $4.20 to $3.50 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price target would suggest a potential upside of 6.87% from the stock’s previous close.

Several other equities research analysts have also issued reports on NIO. Citigroup lowered their target price on shares of NIO from $8.90 to $8.10 and set a “buy” rating for the company in a report on Monday, March 24th. Cfra Research upgraded NIO to a “hold” rating in a report on Friday, March 21st. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Finally, HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NIO has a consensus rating of “Hold” and an average target price of $5.05.

NIO Price Performance

Shares of NIO stock traded down $0.04 on Thursday, reaching $3.28. The company’s stock had a trading volume of 17,464,624 shares, compared to its average volume of 56,131,319. NIO has a 1 year low of $3.02 and a 1 year high of $7.71. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock’s fifty day simple moving average is $4.27 and its 200-day simple moving average is $4.71. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of -2.17 and a beta of 1.74.

NIO (NYSE:NIO) last announced its quarterly earnings results on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the previous year, the business posted ($2.81) EPS. The firm’s revenue was up 15.2% on a year-over-year basis. Analysts forecast that NIO will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Hedge funds and other institutional investors have recently modified their holdings of the stock. PDS Planning Inc increased its holdings in shares of NIO by 13.0% in the fourth quarter. PDS Planning Inc now owns 22,786 shares of the company’s stock valued at $99,000 after purchasing an additional 2,627 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of NIO by 25.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company’s stock worth $59,000 after purchasing an additional 2,712 shares during the last quarter. Franklin Resources Inc. boosted its holdings in NIO by 20.4% in the fourth quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock valued at $72,000 after purchasing an additional 2,788 shares during the last quarter. Perigon Wealth Management LLC grew its position in NIO by 24.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock worth $61,000 after purchasing an additional 2,867 shares during the period. Finally, TD Waterhouse Canada Inc. raised its stake in shares of NIO by 17.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company’s stock valued at $94,000 after buying an additional 3,152 shares during the last quarter. 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.