Citigroup Issues Pessimistic Forecast for NIO (NYSE:NIO) Stock Price

NIO (NYSE:NIO) had its price objective lowered by investment analysts at Citigroup from $8.90 to $8.10 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 85.14% from the company’s current price.

Several other research analysts have also weighed in on NIO. 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. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Mizuho cut their price objective on NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a report on Monday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.00.

NIO Trading Down 2.8 %

Shares of NIO traded down $0.13 during midday trading on Monday, hitting $4.38. The stock had a trading volume of 21,446,121 shares, compared to its average volume of 54,931,875. The business has a 50-day simple moving average of $4.43 and a two-hundred day simple moving average of $4.87. The firm has a market cap of $9.13 billion, a P/E ratio of -2.90 and a beta of 1.81. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. NIO has a fifty-two week low of $3.61 and a fifty-two week high of $7.71.

NIO (NYSE:NIO) last posted its quarterly earnings data 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 return on equity of 113.83% and a negative net margin of 33.41%. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the prior year, the business posted ($2.81) EPS. 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 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. 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 valued at $36,038,000 after acquiring an additional 5,296,601 shares during the period. Trexquant Investment LP bought a new stake in NIO during the 4th quarter worth about $3,305,000. Point72 Hong Kong Ltd acquired a new position in NIO during the 3rd quarter valued at about $4,879,000. SG Americas Securities LLC boosted its stake in shares of NIO by 104.8% in the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock valued at $5,018,000 after purchasing an additional 589,082 shares during the last quarter. Finally, Quadrature Capital Ltd grew its position in shares of NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after buying an additional 538,907 shares during the period. 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.