On September 3, NIO Inc. fell 5.05% in regular trading, trading at $3.86/share, with turnover of $156 million. The decline was driven by a combination of disappointing Q2 results, soft Q3 guidance, and a notable analyst downgrade.

NIO reported Q2 total revenue of RMB 32.14 billion, up 69.1% year-over-year but missing the consensus estimate of RMB 33.49 billion. While adjusted net income swung to a profit and net losses narrowed sharply from RMB 5.14 billion to RMB 721.6 million, the Q3 revenue guidance of RMB 33.29–34.05 billion came in significantly below the Street estimate of RMB 36.01 billion, emerging as the core drag on sentiment. August deliveries of 35,836 units reflected only 14.5% year-over-year growth, a sharp deceleration from the 68% cumulative pace over the first seven months.

JPMorgan downgraded NIO to Neutral from Overweight with a $7 price target. Bank of America also cut its volume forecasts for the next three years by 8–12% and lowered its price target. Meanwhile, CMBI maintained a Buy rating, noting margin resilience and expecting losses to narrow in the second half.

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