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

NIO (NYSE:NIO) had its price target cut by Mizuho from $5.00 to $4.20 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently commented on NIO. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and cut their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, HSBC downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.00.

NIO Stock Performance

NIO stock opened at $4.23 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The company has a market capitalization of $8.82 billion, a PE ratio of -2.80 and a beta of 1.81. The company has a 50 day moving average price of $4.44 and a 200-day moving average price of $4.86. NIO has a fifty-two week low of $3.61 and a fifty-two week high of $7.71.

NIO (NYSE:NIO) last issued 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 net margin of 33.41% and a negative return on equity of 113.83%. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same period last year, the firm earned ($2.81) earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities analysts forecast that NIO will post -1.43 earnings per share for the current year.

Institutional Trading of NIO

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank raised its position in shares of NIO by 1,652,962.5% in the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after purchasing an additional 132,237 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in NIO during the 4th quarter valued at approximately $1,360,000. AlphaStar Capital Management LLC acquired a new position in NIO during the 4th quarter valued at approximately $537,000. FMR LLC lifted its stake in shares of NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after buying an additional 5,296,601 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new position in shares of NIO in the third quarter valued at about $1,327,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.