Nio Inc - (NYSE:NIO - Get Free Report) dropped 4.6% on Friday following a dissappointing earnings announcement. The stock traded as low as $4.36 and last traded at $4.49. Approximately 45,166,065 shares traded hands during trading, a decline of 18% from the average daily volume of 55,087,727 shares. The stock had previously closed at $4.71.
The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the previous year, the firm posted ($2.81) EPS. The business's revenue for the quarter was up 15.2% on a year-over-year basis.
Wall Street Analyst Weigh In
Several equities analysts recently commented on NIO shares. Mizuho dropped their price target on shares of NIO from $5.00 to $4.20 and set a "neutral" rating for the company in a research report on Monday. Citigroup reduced their price objective on NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a research note on Monday. HSBC downgraded shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut shares of NIO from an "overweight" rating to a "neutral" rating and cut their price target for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Finally, Cfra Research raised NIO to a "hold" rating in a report on Friday, March 21st. Two 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. Based on data from MarketBeat.com, NIO currently has a consensus rating of "Hold" and an average target price of $5.00.
Check Out Our Latest Analysis on NIO
Hedge Funds Weigh In On NIO
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PDS Planning Inc raised its stake in shares of NIO by 13.0% in the fourth quarter. PDS Planning Inc now owns 22,786 shares of the company's stock valued at $99,000 after acquiring an additional 2,627 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake 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 purchasing an additional 2,712 shares in the last quarter. Franklin Resources Inc. increased its holdings in NIO by 20.4% during the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock worth $72,000 after purchasing an additional 2,788 shares in the last quarter. Perigon Wealth Management LLC raised its position in NIO by 24.1% in the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock valued at $61,000 after buying an additional 2,867 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted 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 purchasing an additional 3,152 shares in the last quarter. 48.55% of the stock is owned by institutional investors.
NIO Price Performance
The company has a market cap of $8.82 billion, a P/E ratio of -2.80 and a beta of 1.81. The company has a fifty day moving average price of $4.44 and a two-hundred day moving average price of $4.86. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.
About NIO
(
Get Free Report)
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.
Further Reading
Before you consider NIO, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NIO wasn't on the list.
While NIO currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
