NIO (NYSE:NIO) Stock Price Down 3% After Earnings Miss

Nio Inc – (NYSE:NIO)’s share price dropped 3% during trading on Monday after the company announced weaker than expected quarterly earnings. 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) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.81) EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NIO shares. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Cfra Research upgraded NIO to a “hold” rating in a research note on Friday, March 21st. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Finally, Mizuho decreased their target price on NIO from $5.00 to $4.20 and set a “neutral” rating on the stock in a research report on Monday. Two equities research 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.00.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently made changes to their positions in NIO. Blue Trust Inc. increased its position in shares of NIO by 138.5% during 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 in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after buying an additional 4,332 shares in the last quarter. Callan Family Office LLC acquired a new stake in shares of NIO in the fourth quarter valued at about $44,000. Sava Infond d.o.o. acquired a new stake in shares of NIO in the fourth quarter valued at about $44,000. Finally, Trilogy Capital Inc. purchased a new position in shares of NIO in the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Stock Up 0.2 %

The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of -2.91 and a beta of 1.81. 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 business’s 50-day moving average is $4.44 and its two-hundred day moving average is $4.86.

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.