NIO (NYSE:NIO) Releases Quarterly Earnings Results, Beats Expectations By $0.24 EPS

NIO (NYSE:NIO – Get Rating) released its earnings results on Thursday. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.24, Briefing.com reports. The company had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.86 billion. NIO had a negative net margin of 29.03% and a negative return on equity of 37.30%. The company’s revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.48) EPS. NIO updated its Q2 2022 guidance to EPS.

NYSE NIO opened at $18.82 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. The company’s 50 day simple moving average is $17.60 and its 200 day simple moving average is $23.56. NIO has a 12 month low of $11.67 and a 12 month high of $55.13. The company has a market capitalization of $31.41 billion, a P/E ratio of -18.10 and a beta of 2.46.

A number of research firms have issued reports on NIO. UBS Group raised shares of NIO from a “neutral” rating to a “buy” rating and reduced their target price for the company from $42.00 to $32.00 in a research note on Monday, April 4th. CLSA reduced their target price on shares of NIO from $60.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, February 16th. Morgan Stanley reduced their target price on shares of NIO from $34.00 to $31.00 in a research note on Friday. Mizuho reduced their target price on shares of NIO from $60.00 to $55.00 in a research note on Friday. Finally, Citigroup began coverage on shares of NIO in a research note on Wednesday, March 16th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $46.04.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Monolith Advisors bought a new stake in shares of NIO in the 4th quarter worth approximately $47,000. 1832 Asset Management L.P. raised its holdings in shares of NIO by 158.8% during the fourth quarter. 1832 Asset Management L.P. now owns 2,200 shares of the company’s stock valued at $75,000 after acquiring an additional 1,350 shares during the period. Zullo Investment Group Inc. acquired a new stake in shares of NIO during the fourth quarter valued at approximately $152,000. Wahed Invest LLC acquired a new stake in shares of NIO during the first quarter valued at approximately $128,000. Finally, Visionary Wealth Advisors raised its holdings in shares of NIO by 9.3% during the fourth quarter. Visionary Wealth Advisors now owns 7,862 shares of the company’s stock valued at $249,000 after acquiring an additional 670 shares during the period. Institutional investors and hedge funds own 42.98% of the company’s stock.

NIO Company Profile (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.

Recommended Stories