NIO (NYSE:NIO) Trading Down 3% Following Weak Earnings

Shares of Nio Inc - (NYSE:NIO - Get Free Report) dropped 3% on Monday following a dissappointing earnings announcement. The company 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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the previous year, the business posted ($2.81) earnings per share. The company's quarterly revenue was up 15.2% compared to the same quarter last year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Hsbc Global Res cut NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Citigroup dropped their price objective on shares of NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a report on Monday. Cfra Research raised shares of NIO to a "hold" rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $5.00.

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Hedge Funds Weigh In On NIO

Several large investors have recently bought and sold shares of the stock. FMR LLC raised its holdings in shares of NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock worth $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd boosted its stake in shares of NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock worth $14,756,000 after acquiring an additional 538,907 shares in the last quarter. Bridgewater Associates LP grew its stake in NIO by 28.6% in the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock valued at $5,170,000 after buying an additional 263,338 shares during the last quarter. SG Americas Securities LLC increased its position in NIO by 104.8% in the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock worth $5,018,000 after buying an additional 589,082 shares during the period. Finally, Swedbank AB increased its holdings in shares of NIO by 0.8% during the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company's stock worth $4,657,000 after purchasing an additional 9,000 shares during the period. Institutional investors and hedge funds own 48.55% of the company's stock.

NIO Stock Down 5.6 %

The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of -2.64 and a beta of 1.81. 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 business has a 50 day moving average of $4.44 and a 200 day moving average of $4.85.

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.