NIO (NYSE:NIO) Trading Down 3% After Earnings Miss

Shares of Nio Inc – (NYSE:NIO) dropped 3% during trading on Monday following a dissappointing earnings announcement. The stock traded as low as $4.34 and last traded at $4.37. Approximately 21,446,121 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 55,179,905 shares. The stock had previously closed at $4.50.

The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.81) earnings per share.

Analyst Upgrades and Downgrades

NIO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and reduced their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Citigroup dropped their price objective on shares of NIO from $8.90 to $8.10 and set a “buy” rating for the company in a report on Monday. Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.00.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after purchasing an additional 3,607 shares during the period. Jones Financial Companies Lllp grew its holdings in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after purchasing an additional 4,332 shares during the period. Callan Family Office LLC purchased a new stake in shares of NIO during the fourth quarter valued at approximately $44,000. Sava Infond d.o.o. purchased a new stake in shares of NIO during the fourth quarter valued at approximately $44,000. Finally, Trilogy Capital Inc. purchased a new stake in shares of NIO during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Trading Down 3.0 %

The stock’s fifty day moving average price is $4.43 and its 200 day moving average price is $4.87. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a market cap of $9.11 billion, a PE ratio of -2.89 and a beta of 1.81.

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.