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

Nio Inc - (NYSE:NIO - Get Free Report)'s share price dropped 3% on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $4.34 and last traded at $4.37. Approximately 21,446,121 shares traded hands 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 the consensus estimate of ($0.33) by ($0.14). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period last year, the business earned ($2.81) EPS. The firm's revenue was up 15.2% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several equities analysts have commented on NIO shares. Citigroup dropped their price target on shares of NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a research note on Monday. Cfra Research upgraded shares of NIO to a "hold" rating in a research note on Friday, March 21st. Mizuho reduced their price objective on shares of NIO from $5.00 to $4.20 and set a "neutral" rating for the company in a research report on Monday. JPMorgan Chase & Co. cut 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 report on Tuesday, February 4th. Finally, HSBC cut shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NIO has a consensus rating of "Hold" and an average target price of $5.00.

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Hedge Funds Weigh In On NIO

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after purchasing an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of NIO by 131.8% during the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after acquiring an additional 4,332 shares in the last quarter. Callan Family Office LLC bought a new position in NIO during the fourth quarter worth $44,000. Sava Infond d.o.o. acquired a new position in NIO in the fourth quarter worth $44,000. Finally, Trilogy Capital Inc. bought a new stake in NIO during the fourth quarter valued at $45,000. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Stock Down 5.9 %

The stock's fifty day simple moving average is $4.44 and its two-hundred day simple moving average is $4.85. 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 company has a market capitalization of $7.82 billion, a price-to-earnings ratio of -2.48 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.