NIO (NYSE:NIO) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

NIO (NYSE:NIOGet Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.05), reports. NIO had a negative return on equity of 114.79% and a negative net margin of 39.38%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.48 billion. NIO updated its Q2 2024 guidance to EPS.

NIO Stock Down 1.6 %

Shares of NYSE NIO opened at $4.83 on Friday. The company’s 50 day simple moving average is $4.82 and its 200 day simple moving average is $5.99. NIO has a fifty-two week low of $3.61 and a fifty-two week high of $16.18. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America upped their target price on shares of NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a research note on Friday. UBS Group lowered their target price on shares of NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. Mizuho reissued a “neutral” rating and issued a $5.50 target price on shares of NIO in a research note on Monday, March 25th. Citigroup lowered their target price on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research note on Thursday. Finally, Barclays reissued an “underweight” rating and issued a $4.00 target price (down previously from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, NIO presently has a consensus rating of “Hold” and an average price target of $7.54.

Check Out Our Latest Analysis on NIO

Hedge Funds Weigh In On NIO

Several large investors have recently bought and sold shares of NIO. Principal Financial Group Inc. acquired a new position in NIO in the third quarter valued at approximately $443,000. Jump Financial LLC acquired a new position in NIO in the third quarter valued at approximately $288,000. Oppenheimer & Co. Inc. lifted its holdings in NIO by 32.3% in the third quarter. Oppenheimer & Co. Inc. now owns 63,433 shares of the company’s stock valued at $573,000 after buying an additional 15,500 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in NIO by 10.2% in the third quarter. Atria Wealth Solutions Inc. now owns 40,954 shares of the company’s stock valued at $370,000 after buying an additional 3,779 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in NIO by 20.1% in the third quarter. Sequoia Financial Advisors LLC now owns 15,776 shares of the company’s stock valued at $143,000 after purchasing an additional 2,639 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for NIO (NYSE:NIO)

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