NIO (NYSE:NIO) Trading Down 4.6% Following Weak Earnings

Shares of Nio Inc – (NYSE:NIO) fell 4.6% during mid-day trading on Friday following a dissappointing earnings announcement. The stock traded as low as $4.36 and last traded at $4.49. 45,166,065 shares were traded during trading, a decline of 18% from the average session volume of 55,087,727 shares. The stock had previously closed at $4.71.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NIO. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and lowered their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, HSBC lowered 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 issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.03.

Institutional Trading of NIO

A number of hedge funds have recently modified their holdings of NIO. Principal Financial Group Inc. lifted its position in shares of NIO by 140.2% in the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock worth $502,000 after acquiring an additional 43,839 shares during the period. Avior Wealth Management LLC lifted its position in shares of NIO by 106.1% in the 3rd quarter. Avior Wealth Management LLC now owns 14,588 shares of the company’s stock worth $97,000 after acquiring an additional 7,510 shares during the period. Advisors Asset Management Inc. lifted its position in shares of NIO by 71.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 82,179 shares of the company’s stock worth $549,000 after acquiring an additional 34,299 shares during the period. DRW Securities LLC bought a new position in shares of NIO during the 3rd quarter worth approximately $140,000. Finally, FMR LLC lifted its position in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after buying an additional 5,296,601 shares during the period. Institutional investors own 48.55% of the company’s stock.

NIO Price Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm has a market cap of $9.40 billion, a P/E ratio of -2.98 and a beta of 1.81. The company has a 50-day moving average of $4.43 and a 200 day moving average of $4.87.

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.