Handelsbanken Fonder AB grew its holdings in Nio Inc – (NYSE:NIO – Free Report) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 508,207 shares of the company’s stock after purchasing an additional 28,692 shares during the quarter. Handelsbanken Fonder AB’s holdings in NIO were worth $5,341,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in NIO. Norges Bank acquired a new stake in shares of NIO in the fourth quarter valued at $155,344,000. Electron Capital Partners LLC acquired a new stake in shares of NIO in the fourth quarter valued at $61,446,000. Renaissance Technologies LLC raised its stake in shares of NIO by 2,377.8% in the first quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock valued at $113,704,000 after acquiring an additional 5,183,600 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in shares of NIO in the fourth quarter valued at $26,802,000. Finally, Vanguard Group Inc. raised its stake in shares of NIO by 4.9% in the first quarter. Vanguard Group Inc. now owns 49,061,112 shares of the company’s stock valued at $1,032,737,000 after acquiring an additional 2,271,730 shares in the last quarter. Institutional investors and hedge funds own 28.36% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on NIO. Barclays reduced their target price on shares of NIO from $10.00 to $8.00 in a report on Monday, June 12th. Mizuho reduced their target price on shares of NIO from $25.00 to $20.00 in a report on Monday, June 12th. JPMorgan Chase & Co. cut their price target on NIO from $10.00 to $8.50 in a research note on Sunday, June 11th. Nomura cut NIO from a “buy” rating to a “neutral” rating and cut their price target for the company from $25.80 to $7.50 in a research note on Monday, June 12th. Finally, Citigroup cut their price target on NIO from $13.40 to $11.50 in a research note on Sunday, June 11th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.43.
NIO Stock Down 3.0 %
NIO (NYSE:NIO – Get Free Report) last announced its earnings results on Friday, June 9th. The company reported ($2.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($2.29). The business had revenue of $10.68 billion during the quarter, compared to analyst estimates of $11.60 billion. NIO had a negative net margin of 35.03% and a negative return on equity of 66.25%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.18) earnings per share. Analysts anticipate that Nio Inc – will post -1.37 EPS for the current year.
NIO Company Profile
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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