NIO (NYSE:NIO) Shares Gap Down - Here's What Happened

Key Points

• NIO Inc. shares gapped down before the market opened, with the stock starting at $4.74 after closing at $4.91 and last trading at $4.49.
• Analysts have mixed views on NIO, with one maintaining a buy rating, while others have issued neutral and underweight ratings along with various price target adjustments.
• The company reported negative earnings per share of ($0.45), missing estimates, while its revenue of $1.66 billion was significantly down from analyst expectations.

Shares of NIO Inc. (NYSE:NIO - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $4.91, but opened at $4.74. NIO shares last traded at $4.49, with a volume of 12,302,755 shares.

Analysts Set New Price Targets

Several research firms have issued reports on NIO. Citigroup restated a "buy" rating on shares of NIO in a report on Monday, April 28th. Mizuho lowered their price target on NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. The Goldman Sachs Group upgraded NIO from a "sell" rating to a "neutral" rating and boosted their price target for the company from $3.70 to $3.80 in a report on Tuesday, June 17th. Barclays lowered their price target on NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a report on Wednesday, June 4th. Finally, Morgan Stanley reiterated a "buy" rating on shares of NIO in a report on Monday, July 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, NIO presently has an average rating of "Hold" and an average target price of $4.74.

NIO Stock Down 8.7%

The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 1.89. The stock has a 50-day simple moving average of $4.01 and a 200-day simple moving average of $4.07. The company has a market cap of $9.36 billion, a price-to-earnings ratio of -2.76 and a beta of 1.42.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $12.46 billion. During the same quarter last year, the firm posted ($2.39) EPS. The company's revenue was up 21.5% compared to the same quarter last year. As a group, analysts predict that NIO Inc. will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Xponance Inc. acquired a new position in NIO during the 1st quarter worth $39,000. Blueshift Asset Management LLC bought a new stake in shares of NIO in the 1st quarter worth $43,000. Hedeker Wealth LLC bought a new stake in shares of NIO in the 2nd quarter worth $43,000. Annex Advisory Services LLC bought a new stake in shares of NIO in the 1st quarter worth $47,000. Finally, May Hill Capital LLC bought a new stake in shares of NIO in the 1st quarter worth $48,000. Institutional investors and hedge funds own 48.55% of the company's stock.

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.

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