Commonwealth Equity Services LLC grew its position in Nio Inc – (NYSE:NIO – Free Report) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 244,129 shares of the company’s stock after purchasing an additional 16,034 shares during the quarter. Commonwealth Equity Services LLC’s holdings in NIO were worth $2,565,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of NIO. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of NIO by 127.6% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 770,160 shares of the company’s stock valued at $15,172,000 after purchasing an additional 431,851 shares in the last quarter. US Bancorp DE raised its holdings in shares of NIO by 19.9% in the 1st quarter. US Bancorp DE now owns 18,593 shares of the company’s stock valued at $392,000 after purchasing an additional 3,092 shares in the last quarter. Cibc World Market Inc. grew its position in shares of NIO by 23.6% in the 1st quarter. Cibc World Market Inc. now owns 38,708 shares of the company’s stock valued at $815,000 after buying an additional 7,396 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of NIO by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,705,563 shares of the company’s stock valued at $57,007,000 after buying an additional 48,720 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of NIO by 45.6% in the 1st quarter. Sei Investments Co. now owns 338,913 shares of the company’s stock valued at $7,134,000 after buying an additional 106,140 shares during the last quarter. 42.32% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
NIO has been the topic of a number of recent analyst reports. Mizuho dropped their target price on shares of NIO from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, August 30th. Bank of America dropped their target price on shares of NIO from $16.20 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 30th. Nomura downgraded shares of NIO from a “buy” rating to a “neutral” rating and dropped their target price for the company from $25.80 to $7.50 in a research report on Monday, June 12th. CLSA dropped their target price on shares of NIO from $18.00 to $14.00 in a research report on Thursday, August 31st. Finally, Sanford C. Bernstein lowered their price objective on shares of NIO from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 30th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.76.
NIO Stock Down 1.8 %
Shares of NYSE:NIO opened at $10.80 on Wednesday. The company has a market cap of $18.57 billion, a price-to-earnings ratio of -6.00 and a beta of 2.08. The firm’s 50-day simple moving average is $11.61 and its 200-day simple moving average is $9.72. The company has a quick ratio of 0.82, a current ratio of 1.00 and a debt-to-equity ratio of 0.45. Nio Inc – has a fifty-two week low of $7.00 and a fifty-two week high of $22.74.
NIO (NYSE:NIO – Get Free Report) last issued its earnings results on Tuesday, August 29th. The company reported ($3.28) earnings per share for the quarter, missing the consensus estimate of ($2.96) by ($0.32). The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $9.16 billion. NIO had a negative net margin of 42.97% and a negative return on equity of 94.92%. The firm’s revenue was down 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.25) EPS. As a group, equities research analysts predict that Nio Inc – will post -1.51 earnings per share for the current year.
NIO 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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