Allworth Financial LP lifted its position in Nio Inc – (NYSE:NIO – Free Report) by 161.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,377 shares of the company’s stock after buying an additional 2,703 shares during the quarter. Allworth Financial LP’s holdings in NIO were worth $42,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. boosted its position in NIO by 127.6% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 770,160 shares of the company’s stock worth $15,172,000 after purchasing an additional 431,851 shares during the period. US Bancorp DE boosted its position in NIO by 19.9% during the first quarter. US Bancorp DE now owns 18,593 shares of the company’s stock worth $392,000 after purchasing an additional 3,092 shares during the period. Cibc World Market Inc. lifted its holdings in shares of NIO by 23.6% during the first quarter. Cibc World Market Inc. now owns 38,708 shares of the company’s stock worth $815,000 after buying an additional 7,396 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of NIO by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,705,563 shares of the company’s stock worth $57,007,000 after buying an additional 48,720 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of NIO by 45.6% during the first quarter. Sei Investments Co. now owns 338,913 shares of the company’s stock worth $7,134,000 after buying an additional 106,140 shares during the last quarter. Institutional investors own 42.32% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. CLSA cut their target price on NIO from $18.00 to $14.00 in a research note on Thursday, August 31st. Sanford C. Bernstein lowered their price target on NIO from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 30th. Mizuho lowered their price target on NIO from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, August 30th. Citigroup upped their price target on NIO from $13.90 to $19.20 in a research report on Friday, August 4th. Finally, Bank of America decreased their target price on NIO from $16.20 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, August 30th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.68.
NIO Price Performance
Shares of NYSE NIO opened at $8.83 on Thursday. The stock has a market cap of $15.18 billion, a PE ratio of -4.91 and a beta of 2.09. Nio Inc – has a fifty-two week low of $7.00 and a fifty-two week high of $16.68. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.82 and a current ratio of 1.00. The stock has a fifty day moving average of $11.11 and a 200-day moving average of $9.75.
NIO (NYSE:NIO – Get Free Report) last issued its quarterly earnings results on Tuesday, August 29th. The company reported ($3.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.96) by ($0.32). NIO had a negative return on equity of 94.92% and a negative net margin of 42.97%. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $9.16 billion. During the same period last year, the firm earned ($0.25) EPS. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. Equities research analysts anticipate that Nio Inc – will post -1.81 earnings per share 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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