Nio Inc – (NYSE:NIO) hit a new 52-week low on Wednesday following a dissappointing earnings announcement. The company traded as low as $3.66 and last traded at $3.74, with a volume of 147562 shares. The stock had previously closed at $4.00.
The company reported ($2.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($1.92). The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.41 billion. The company’s quarterly revenue was up .0% on a year-over-year basis.
NIO has been the topic of a number of research analyst reports. Zacks Investment Research raised NIO from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. Goldman Sachs Group initiated coverage on NIO in a research note on Thursday, March 7th. They issued a “buy” rating and a $10.70 target price on the stock. UBS Group reduced their target price on NIO from $7.00 to $5.50 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Bank of America cut NIO from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $8.00 to $6.80 in a research note on Wednesday, March 6th. Finally, Deutsche Bank set a $10.00 target price on NIO and gave the company a “buy” rating in a research note on Thursday, March 7th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $7.27.
The company has a debt-to-equity ratio of 0.17, a current ratio of 1.42 and a quick ratio of 1.25. The company has a market capitalization of $4.10 billion and a PE ratio of -0.32.
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About NIO (NYSE:NIO)
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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