Nio Inc (NYSE:NIO) shares were volatile on Friday morning after the company reported results for its first quarter.

The results came amid an exciting earnings season. Here are some key analyst takeaways.

Goldman Sachs On Nio

Analyst Tina Hou maintained a Neutral rating and price target of $4.10.

Nio reported first-quarter revenues of 9.9 billion yuan (~$1,366,063,578 U.S. dollars), representing a 7% year-on-year and 42% sequential decline, and coming in lower than the consensus, Hou said in a note. The company’s gross profits of 488 million yuan (~$67,337,275.36 U.S. dollars) grew by 201% year-on-year, but declined 62% sequentially, she added.

“The gross profit miss was mainly on the revenue mix,” the analyst …

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