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

Nio Inc - (NYSE:NIO - Get Free Report) shares fell 4.6% during 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 the consensus estimate of ($0.33) by ($0.14). The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. NIO's revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.81) EPS.

Analysts Set New Price Targets

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

Remove Ads

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. PDS Planning Inc raised its position in shares of NIO by 13.0% during the fourth quarter. PDS Planning Inc now owns 22,786 shares of the company's stock worth $99,000 after purchasing an additional 2,627 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in NIO by 25.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock worth $59,000 after buying an additional 2,712 shares during the period. Franklin Resources Inc. lifted its stake in NIO by 20.4% during the fourth quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock valued at $72,000 after buying an additional 2,788 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of NIO by 24.1% in the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock worth $61,000 after buying an additional 2,867 shares during the period. Finally, TD Waterhouse Canada Inc. increased its position in shares of NIO by 17.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company's stock worth $94,000 after acquiring an additional 3,152 shares in the last quarter. 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 current ratio of 1.04 and a quick ratio of 0.93. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of -2.90 and a beta of 1.81. The stock's fifty day moving average price is $4.43 and its 200-day moving average price is $4.87.

About NIO

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.