NIO (NYSE:NIO) Stock Price Down 4.6% Following Weak Earnings

Nio Inc – (NYSE:NIO)’s share price was down 4.6% during trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $4.36 and last traded at $4.49. Approximately 45,166,065 shares were traded during mid-day 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 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 during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the prior year, the firm posted ($2.81) EPS. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NIO. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, HSBC cut NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.03.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently bought and sold shares of NIO. Blue Trust Inc. boosted its stake in NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after buying an additional 3,607 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after purchasing an additional 4,332 shares in the last quarter. Callan Family Office LLC bought a new position in shares of NIO in the fourth quarter worth approximately $44,000. Sava Infond d.o.o. purchased a new stake in NIO in the fourth quarter valued at approximately $44,000. Finally, Trilogy Capital Inc. bought a new stake in NIO during the fourth quarter valued at approximately $45,000. Institutional investors own 48.55% of the company’s stock.

NIO Trading Down 4.4 %

The stock’s 50 day simple moving average is $4.43 and its 200 day simple moving average is $4.87. The firm has a market cap of $9.40 billion, a PE ratio of -2.98 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.

About NIO

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.