Barclays Cuts NIO (NYSE:NIO) Price Target to $3.00

NIO (NYSE:NIO - Get Free Report) had its price target reduced by Barclays from $4.00 to $3.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Barclays's target price would suggest a potential downside of 17.01% from the company's current price.

A number of other brokerages also recently weighed in on NIO. Mizuho lowered their price target on NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a report on Tuesday. Cfra Research upgraded NIO to a "hold" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Finally, Citigroup restated a "buy" rating on shares of NIO in a research report on Monday, April 28th. Two analysts have rated the stock with a sell rating, eight have given 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, the company currently has a consensus rating of "Hold" and an average price target of $4.76.

NIO Stock Down 3.6%

NIO stock traded down $0.14 during midday trading on Wednesday, hitting $3.62. 37,278,239 shares of the company's stock were exchanged, compared to its average volume of 53,281,475. 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 12-month low of $3.02 and a 12-month high of $7.71. The firm has a 50 day moving average price of $3.77 and a 200-day moving average price of $4.22. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of -2.39 and a beta of 1.73.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.23). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $12.46 billion. During the same quarter in the prior year, the firm earned ($2.39) earnings per share. NIO's revenue for the quarter was up 21.5% compared to the same quarter last year. On average, analysts anticipate that NIO will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in NIO during the 4th quarter worth $1,360,000. AlphaStar Capital Management LLC acquired a new position in NIO during the 4th quarter worth $537,000. SIH Partners LLLP boosted its position in NIO by 23.1% during the 4th quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock worth $4,071,000 after acquiring an additional 175,000 shares during the period. Arizona PSPRS Trust acquired a new position in NIO during the 4th quarter worth $1,330,000. Finally, Raymond James Financial Inc. bought a new stake in shares of NIO in the 4th quarter worth $1,776,000. Institutional investors and hedge funds 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.