Citigroup Lowers NIO (NYSE:NIO) Price Target to $41.10

NIO (NYSE:NIOGet Rating) had its price objective reduced by Citigroup from $87.00 to $41.10 in a research note issued to investors on Tuesday morning, The Fly reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the company. Nomura lowered their price objective on NIO from $67.10 to $51.50 and set a buy rating for the company in a report on Monday, March 28th. began coverage on NIO in a report on Thursday, March 24th. They set a buy rating and a $32.40 target price for the company. Morgan Stanley lowered their target price on NIO from $34.00 to $31.00 and set an overweight rating for the company in a report on Friday, June 10th. Bank of America raised NIO from a neutral rating to a buy rating and set a $26.00 target price for the company in a report on Monday, May 16th. Finally, UBS Group raised NIO from a neutral rating to a buy rating and lowered their target price for the company from $42.00 to $32.00 in a report on Monday, April 4th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $42.91.

Shares of NYSE NIO opened at $23.05 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.93 and a current ratio of 2.02. The firm has a market cap of $38.47 billion, a price-to-earnings ratio of -31.15 and a beta of 2.46. NIO has a 1 year low of $11.67 and a 1 year high of $55.13. The stock’s 50-day simple moving average is $17.44 and its 200-day simple moving average is $22.30.

NIO (NYSE:NIOGet Rating) last announced its quarterly earnings data on Thursday, June 9th. The company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.24. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.86 billion. NIO had a negative return on equity of 24.99% and a negative net margin of 19.67%. NIO’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.48) earnings per share. As a group, research analysts predict that NIO will post -0.62 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of NIO by 2.0% in the fourth quarter. State Street Corp now owns 32,887,731 shares of the company’s stock valued at $1,041,883,000 after buying an additional 658,909 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in NIO during the 4th quarter valued at $2,103,000. Geode Capital Management LLC raised its stake in NIO by 10.2% during the 4th quarter. Geode Capital Management LLC now owns 5,539,804 shares of the company’s stock valued at $174,261,000 after purchasing an additional 513,784 shares during the period. Rafferty Asset Management LLC acquired a new stake in NIO during the 4th quarter valued at $279,000. Finally, IPG Investment Advisors LLC raised its stake in NIO by 27.6% during the 4th quarter. IPG Investment Advisors LLC now owns 12,087 shares of the company’s stock valued at $383,000 after purchasing an additional 2,618 shares during the period. 42.98% of the stock is currently owned by institutional investors.

NIO Company Profile (Get Rating)

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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