NIO (NYSE:NIO) Shares Gap Down Following Weak Earnings

Nio Inc – (NYSE:NIO) shares gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $3.52, but opened at $3.40. NIO shares last traded at $3.49, with a volume of 23,227,148 shares traded.

The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.23). The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $12.46 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.39) earnings per share.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NIO. Cfra Research upgraded NIO to a “hold” rating in a research report on Friday, March 21st. Mizuho lowered their price objective on NIO from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday. Citigroup reiterated a “buy” rating on shares of NIO in a research report on Monday, April 28th. Finally, Barclays lowered their price target on NIO from $4.00 to $3.00 and set an “underweight” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.76.

Institutional Trading of NIO

A number of large investors have recently bought and sold shares of NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in NIO by 3,966.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock worth $20,255,000 after purchasing an additional 5,185,565 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in NIO by 39.1% in the first quarter. Advisors Asset Management Inc. now owns 123,467 shares of the company’s stock worth $470,000 after purchasing an additional 34,678 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in NIO by 38.9% in the first quarter. Rafferty Asset Management LLC now owns 50,109 shares of the company’s stock worth $191,000 after purchasing an additional 14,028 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in NIO by 49.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 18,441 shares of the company’s stock worth $70,000 after purchasing an additional 6,078 shares in the last quarter. Finally, Compound Planning Inc. boosted its stake in NIO by 25.5% in the first quarter. Compound Planning Inc. now owns 33,746 shares of the company’s stock worth $129,000 after purchasing an additional 6,865 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

NIO Trading Up 6.5%

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The company has a market cap of $7.85 billion, a price-to-earnings ratio of -2.49 and a beta of 1.73. The business has a 50 day simple moving average of $3.77 and a 200 day simple moving average of $4.22.

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.