NIO (NYSE:NIO) Price Target Raised to $6.00

Key Points

• Equities research analysts at Mizuho raised NIO's price target from $3.50 to $6.00, reflecting a potential downside of 1.88% from the current stock price.
• NIO reported a net loss of ($0.45) per share in its last quarterly earnings, significantly missing the consensus estimate of ($0.22), despite experiencing a 21.5% year-over-year revenue increase.
• Institutional investors have shown increased interest in NIO, with notable buys such as Trilogy Capital boosting their position by 1,307.5% in the first quarter.

NIO (NYSE:NIO - Get Free Report) had its price target raised by equities research analysts at Mizuho from $3.50 to $6.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Mizuho's price target indicates a potential downside of 1.88% from the company's current price.

NIO has been the topic of a number of other reports. Morgan Stanley reissued a "buy" rating on shares of NIO in a research note on Monday, July 14th. The Goldman Sachs Group raised NIO from a "sell" rating to a "neutral" rating and increased their target price for the stock from $3.70 to $3.80 in a research note on Tuesday, June 17th. JPMorgan Chase & Co. raised NIO from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $4.80 to $8.00 in a research note on Tuesday, August 26th. Finally, Barclays cut their target price on NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $5.83.

NIO Stock Down 7.1%

NIO stock traded down $0.47 during midday trading on Wednesday, hitting $6.12. The stock had a trading volume of 55,527,313 shares, compared to its average volume of 55,520,676. The firm has a market cap of $12.76 billion, a price-to-earnings ratio of -3.77 and a beta of 1.20. The business has a 50-day moving average of $4.67 and a two-hundred day moving average of $4.22. NIO has a 52-week low of $3.02 and a 52-week high of $7.71. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.84 and a quick ratio of 0.69.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.23). NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%.The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $12.46 billion. During the same period in the previous year, the company earned ($2.39) earnings per share. NIO's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, equities research analysts forecast that NIO will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Trilogy Capital Inc. boosted its position in NIO by 1,307.5% in the first quarter. Trilogy Capital Inc. now owns 144,356 shares of the company's stock worth $550,000 after purchasing an additional 134,100 shares during the last quarter. Ping Capital Management Inc. purchased a new position in NIO in the first quarter worth about $305,000. Hsbc Holdings PLC boosted its position in NIO by 96.6% in the first quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company's stock worth $3,964,000 after purchasing an additional 510,610 shares during the last quarter. American Century Companies Inc. boosted its position in NIO by 18.0% in the first quarter. American Century Companies Inc. now owns 702,772 shares of the company's stock worth $2,678,000 after purchasing an additional 107,239 shares during the last quarter. Finally, Accuvest Global Advisors purchased a new position in NIO in the first quarter worth about $331,000. 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.

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