Nelson Van Denburg & Campbell Wealth Management Group LLC Sells 1,400 Shares of Nio Inc – (NYSE:NIO)

Posted by on Aug 22nd, 2023

Nelson Van Denburg & Campbell Wealth Management Group LLC trimmed its position in Nio Inc – (NYSE:NIO – Free Report) by 20.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 5,439 shares of the company’s stock after selling 1,400 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in NIO were worth $57,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of NIO in the 4th quarter worth $155,344,000. Electron Capital Partners LLC bought a new position in shares of NIO in the 4th quarter worth $61,446,000. Renaissance Technologies LLC boosted its position in shares of NIO by 2,377.8% in the 1st quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock worth $113,704,000 after purchasing an additional 5,183,600 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of NIO in the 4th quarter worth $26,802,000. Finally, Vanguard Group Inc. boosted its position in shares of NIO by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 49,061,112 shares of the company’s stock worth $1,032,737,000 after purchasing an additional 2,271,730 shares during the last quarter. 28.36% of the stock is currently owned by institutional investors.

NIO Stock Performance

NIO opened at $10.95 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.28 and a quick ratio of 1.12. The business’s 50-day moving average price is $11.24 and its two-hundred day moving average price is $9.70. The company has a market capitalization of $18.82 billion, a price-to-earnings ratio of -7.11 and a beta of 2.03. Nio Inc – has a 1 year low of $7.00 and a 1 year high of $22.74.

NIO (NYSE:NIO – Get Free Report) last released its earnings results on Friday, June 9th. The company reported ($2.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($2.29). The company 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%. NIO’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.18) EPS. Equities analysts expect that Nio Inc – will post -1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Nomura downgraded NIO from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $25.80 to $7.50 in a research note on Monday, June 12th. UBS Group raised their price objective on NIO from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, July 31st. Bank of America raised their price objective on NIO from $13.00 to $15.40 in a research note on Thursday, August 10th. JPMorgan Chase & Co. raised their price objective on NIO from $8.50 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Finally, Citigroup raised their price objective on NIO from $13.90 to $19.20 in a research note on Friday, August 4th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.31.

Read Our Latest Research Report on NIO

NIO Profile

(Free Report)

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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Institutional Ownership by Quarter for NIO (NYSE:NIO)

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