NIO (NYSE:NIO) Reaches New 1-Year Low After Earnings Miss

Nio Inc - (NYSE:NIO - Get Free Report)'s share price reached a new 52-week low on Tuesday following a dissappointing earnings announcement. The company traded as low as $4.78 and last traded at $5.52, with a volume of 40342457 shares changing hands. The stock had previously closed at $5.33.

The company reported ($2.81) earnings per share for the quarter, missing analysts' consensus estimates of ($2.39) by ($0.42). NIO had a negative return on equity of 114.38% and a negative net margin of 39.26%. The business had revenue of $17.10 billion during the quarter, compared to analysts' expectations of $18.16 billion. During the same period in the prior year, the company earned ($0.51) earnings per share. The firm's quarterly revenue was up 6.5% compared to the same quarter last year.

Analyst Upgrades and Downgrades

NIO has been the topic of a number of recent analyst reports. Bank of America cut shares of NIO from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 9th. The Goldman Sachs Group started coverage on NIO in a report on Wednesday, January 3rd. They issued a "neutral" rating for the company. JPMorgan Chase & Co. downgraded NIO from a "neutral" rating to an "underweight" rating and decreased their price objective for the company from $8.50 to $5.00 in a report on Friday, February 23rd. Finally, Mizuho reduced their target price on shares of NIO from $18.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $12.25.

Institutional Trading of NIO

Several large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in NIO during the 4th quarter valued at about $155,344,000. Voloridge Investment Management LLC acquired a new stake in NIO in the 4th quarter valued at about $73,622,000. Two Sigma Investments LP acquired a new stake in NIO in the 1st quarter valued at about $71,533,000. Renaissance Technologies LLC raised its position in NIO by 2,377.8% in the 1st quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company's stock valued at $113,704,000 after purchasing an additional 5,183,600 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in NIO by 238.6% in the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company's stock valued at $64,070,000 after purchasing an additional 4,976,403 shares in the last quarter. 42.32% of the stock is currently owned by hedge funds and other institutional investors.

NIO Stock Up 2.6 %

The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.97 and a current ratio of 1.09. The company has a market cap of $9.40 billion, a price-to-earnings ratio of -2.96 and a beta of 1.94. The business has a 50-day simple moving average of $6.61 and a 200-day simple moving average of $7.89.

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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