NIO (NYSE:NIO) Shares Gap Down on Disappointing Earnings

Shares of Nio Inc - (NYSE:NIO - Get Free Report) gapped down prior to trading on Tuesday following a weaker than expected 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.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on NIO shares. Mizuho cut their price target on NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Tuesday. Barclays cut their target price on shares of NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research report on Wednesday. Citigroup reissued a "buy" rating on shares of NIO in a research report on Monday, April 28th. Finally, Cfra Research upgraded NIO to a "hold" rating in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $4.76.

Institutional Trading of NIO

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its position in shares of NIO by 138.5% during the 4th 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 in the last quarter. Jones Financial Companies Lllp raised its position in 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 acquiring an additional 4,332 shares during the period. Xponance Inc. acquired a new position in NIO during the first quarter worth $39,000. Blueshift Asset Management LLC purchased a new stake in shares of NIO in the 1st quarter valued at approximately $43,000. Finally, Callan Family Office LLC acquired a new position in NIO in the fourth quarter valued at approximately $44,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Stock Up 0.3%

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 $7.58 billion, a PE ratio of -2.40 and a beta of 1.73. The firm has a 50-day moving average of $3.77 and a two-hundred day moving average of $4.22.

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.