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

Nio Inc – (NYSE:NIO) dropped 3% on Monday following a weaker than expected earnings announcement. The stock traded as low as $4.34 and last traded at $4.37. Approximately 21,446,121 shares were traded during 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) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.81) earnings per share.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of analyst reports. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Cfra Research upgraded NIO to a “hold” rating in a report on Friday, March 21st. Mizuho dropped their target price on NIO from $5.00 to $4.20 and set a “neutral” rating on the stock in a research note on Monday. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Finally, HSBC lowered 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 issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. FMR LLC boosted its position in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after buying an additional 5,296,601 shares during the last quarter. Trexquant Investment LP acquired a new stake in NIO during the 4th quarter valued at approximately $3,305,000. Point72 Hong Kong Ltd purchased a new stake in shares of NIO in the 3rd quarter valued at $4,879,000. SG Americas Securities LLC increased its stake in shares of NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after acquiring an additional 589,082 shares during the period. Finally, Quadrature Capital Ltd raised its holdings in shares of NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after purchasing an additional 538,907 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Stock Up 0.2 %

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of -2.91 and a beta of 1.81. The business’s 50-day moving average is $4.44 and its 200-day moving average is $4.86.

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.