NIO (NYSE:NIO) Announces Earnings Results

NIO (NYSE:NIO) posted its quarterly earnings data on Tuesday. The company reported ($3.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($2.65), reports. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.21 billion. NIO had a negative return on equity of 76.20% and a negative net margin of 152.51%. NIO’s revenue for the quarter was up 3180.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($57.82) EPS. NIO updated its Q3 2019 guidance to EPS.

NIO stock opened at $1.96 on Friday. The company has a market cap of $2.23 billion and a P/E ratio of -0.19. NIO has a twelve month low of $1.90 and a twelve month high of $10.64. The company has a quick ratio of 1.34, a current ratio of 1.49 and a debt-to-equity ratio of 3.73. The business has a fifty day moving average of $2.94 and a 200-day moving average of $3.82.

NIO has been the subject of a number of recent research reports. Zacks Investment Research downgraded NIO from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley downgraded NIO from an “overweight” rating to an “equal” rating and dropped their target price for the stock from $3.50 to $2.40 in a research report on Thursday. Bank of America set a $2.50 target price on NIO and gave the stock a “sell” rating in a research report on Tuesday. China Renaissance Securities initiated coverage on NIO in a research report on Thursday. They set a “hold” rating and a $2.00 target price for the company. Finally, Wolfe Research downgraded NIO from an “outperform” rating to a “peer perform” rating and set a $1.90 target price for the company. in a research report on Thursday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.67.

About 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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