NIO (NYSE:NIO) Announces Quarterly Earnings Results

NIO (NYSE:NIO) issued its quarterly earnings data on Thursday. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21), Briefing.com reports. The business had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. The business’s revenue was up 98.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.51) earnings per share. NIO updated its Q3 2024 guidance to EPS.

NIO Stock Performance

NIO stock opened at $5.03 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. NIO has a one year low of $3.61 and a one year high of $10.88. The stock’s 50 day moving average price is $4.27 and its 200 day moving average price is $4.71. The firm has a market capitalization of $8.65 billion, a PE ratio of -2.98 and a beta of 1.82.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NIO shares. Wolfe Research initiated coverage on shares of NIO in a report on Thursday. They set a “peer perform” rating for the company. Citigroup dropped their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday. Bank of America increased their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $5.30 to $8.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.93.

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.