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

NIO (NYSE:NIO - Get Free Report) had its price target decreased by stock analysts at Mizuho from $4.00 to $3.50 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Mizuho's target price indicates a potential downside of 3.18% from the stock's current price.

Other research analysts have also issued reports about the company. Citigroup reissued a "buy" rating on shares of NIO in a research report on Monday, April 28th. Cfra Research raised NIO to a "hold" rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. cut 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 note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company 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 mid-day trading on Tuesday, reaching $3.62. The company had a trading volume of 37,278,239 shares, compared to its average volume of 53,281,475. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of -2.39 and a beta of 1.73. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. NIO has a 52 week low of $3.02 and a 52 week high of $7.71. The stock has a 50 day simple moving average of $3.77 and a two-hundred day simple moving average of $4.22.

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

Institutional Trading of NIO

Institutional investors and hedge funds have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NIO by 3,966.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company's stock valued at $20,255,000 after buying an additional 5,185,565 shares during the period. Advisors Asset Management Inc. increased its stake in NIO by 39.1% in the 1st quarter. Advisors Asset Management Inc. now owns 123,467 shares of the company's stock worth $470,000 after acquiring an additional 34,678 shares during the last quarter. Rafferty Asset Management LLC increased its stake in NIO by 38.9% in the 1st quarter. Rafferty Asset Management LLC now owns 50,109 shares of the company's stock worth $191,000 after acquiring an additional 14,028 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in NIO by 49.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 18,441 shares of the company's stock worth $70,000 after acquiring an additional 6,078 shares during the last quarter. Finally, Compound Planning Inc. boosted its holdings in shares of NIO by 25.5% in the 1st quarter. Compound Planning Inc. now owns 33,746 shares of the company's stock worth $129,000 after purchasing an additional 6,865 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.