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

Nio Inc – (NYSE:NIO) traded down 3% during trading on Monday following a dissappointing earnings announcement. The stock traded as low as $4.34 and last traded at $4.37. 21,446,121 shares were traded during trading, a decline of 61% from the average session 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 analysts’ consensus estimates of ($0.33) by ($0.14). The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the company earned ($2.81) EPS.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. 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 note on Monday. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and cut their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.00.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently made changes to their positions in NIO. Principal Financial Group Inc. grew its stake 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 buying an additional 43,839 shares in the last quarter. Avior Wealth Management LLC grew its stake 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 buying an additional 7,510 shares in the last quarter. Advisors Asset Management Inc. grew its stake 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 buying an additional 34,299 shares in the last quarter. DRW Securities LLC purchased a new position in shares of NIO in the 3rd quarter worth $140,000. Finally, FMR LLC grew its stake 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 buying an additional 5,296,601 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Stock Down 3.0 %

The company’s fifty day moving average price is $4.43 and its 200-day moving average price is $4.87. The stock has a market cap of $9.11 billion, a P/E ratio of -2.89 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

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.