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.
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.
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