NIO (NYSE:NIO) Issues Earnings Results

NIO (NYSE:NIO – Get Rating) issued its quarterly earnings data on Thursday. The company reported ($0.79) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.24, Briefing.com reports. The business had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.86 billion. NIO had a negative net margin of 19.67% and a negative return on equity of 26.30%. The company’s revenue was up 24.2% on a year-over-year basis. During the same period last year, the company posted ($0.48) EPS. NIO updated its Q2 2022 guidance to EPS.

Shares of NIO stock opened at $18.14 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.18 and a quick ratio of 2.11. NIO has a fifty-two week low of $11.67 and a fifty-two week high of $55.13. The business has a 50-day moving average price of $17.52 and a 200 day moving average price of $23.40.

NIO has been the topic of several analyst reports. CLSA decreased their price objective on NIO from $60.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, February 16th. Citigroup started coverage on NIO in a report on Wednesday, March 16th. They issued a “buy” rating on the stock. Nomura reduced their target price on NIO from $67.10 to $51.50 and set a “buy” rating on the stock in a report on Monday, March 28th. Morgan Stanley cut their price objective on NIO from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, UBS Group raised NIO from a “neutral” rating to a “buy” rating and cut their price objective for the company from $42.00 to $32.00 in a research report on Monday, April 4th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $46.19.

A number of hedge funds have recently modified their holdings of the business. Advisory Services Network LLC boosted its position in shares of NIO by 14.0% during the first quarter. Advisory Services Network LLC now owns 30,490 shares of the company’s stock worth $642,000 after buying an additional 3,751 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of NIO by 2.1% in the first quarter. The Manufacturers Life Insurance Company now owns 238,000 shares of the company’s stock valued at $5,010,000 after buying an additional 4,900 shares in the last quarter. Wahed Invest LLC bought a new position in shares of NIO in the first quarter valued at $128,000. Advisors Asset Management Inc. increased its holdings in shares of NIO by 58.3% in the first quarter. Advisors Asset Management Inc. now owns 16,748 shares of the company’s stock valued at $353,000 after buying an additional 6,166 shares in the last quarter. Finally, Mirabella Financial Services LLP bought a new position in shares of NIO in the first quarter valued at $2,316,000. Institutional investors own 42.98% of the company’s stock.

About NIO (Get Rating)

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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