Citigroup Lowers NIO (NYSE:NIO) Price Target to $7.00

NIO (NYSE:NIO) had its price target reduced by stock analysts at Citigroup from $8.50 to $7.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 44.33% from the company’s previous close.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $4.80 to $5.40 in a research note on Wednesday, May 15th. Bank of America increased their price objective on NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.68.

NIO Price Performance

Shares of NYSE NIO opened at $4.85 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. NIO has a fifty-two week low of $3.61 and a fifty-two week high of $10.91. The stock has a market cap of $8.34 billion, a PE ratio of -2.87 and a beta of 1.82. The stock has a fifty day moving average of $4.25 and a 200-day moving average of $4.72.

NIO (NYSE:NIO) last posted its earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Equities research analysts anticipate 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 bought and sold shares of the company. Principal Securities Inc. purchased a new stake in shares of NIO in the 4th quarter valued at $42,000. Ridgewood Investments LLC purchased a new stake in NIO during the second quarter valued at about $25,000. Newbridge Financial Services Group Inc. grew its stake in shares of NIO by 272.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after buying an additional 6,875 shares during the last quarter. Calton & Associates Inc. purchased a new position in shares of NIO in the fourth quarter worth about $92,000. Finally, HighPoint Advisor Group LLC bought a new stake in shares of NIO in the 4th quarter valued at about $93,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.