Assenagon Asset Management S.A. Acquires 5,760 Shares of Nio Inc – (NYSE:NIO)

Posted by on Oct 18th, 2023

Assenagon Asset Management S.A. raised its position in shares of Nio Inc – (NYSE:NIO – Free Report) by 9.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,136 shares of the company’s stock after acquiring an additional 5,760 shares during the quarter. Assenagon Asset Management S.A.’s holdings in NIO were worth $631,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its position in NIO by 10.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,328,520 shares of the company’s stock valued at $12,661,000 after acquiring an additional 120,556 shares in the last quarter. MCF Advisors LLC boosted its position in shares of NIO by 8.4% in the 2nd quarter. MCF Advisors LLC now owns 128,726 shares of the company’s stock worth $1,247,000 after purchasing an additional 10,000 shares in the last quarter. Calton & Associates Inc. boosted its position in shares of NIO by 14.1% in the 2nd quarter. Calton & Associates Inc. now owns 16,100 shares of the company’s stock worth $156,000 after purchasing an additional 1,990 shares in the last quarter. Brave Asset Management Inc. bought a new stake in shares of NIO in the 2nd quarter worth approximately $116,000. Finally, Redwood Wealth Management Group LLC boosted its position in shares of NIO by 11.5% in the 2nd quarter. Redwood Wealth Management Group LLC now owns 43,842 shares of the company’s stock worth $425,000 after purchasing an additional 4,530 shares in the last quarter. 42.32% of the stock is owned by institutional investors.

NIO Stock Performance

NYSE NIO opened at $8.53 on Wednesday. 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 twelve month low of $7.00 and a twelve month high of $16.18. The business has a 50-day moving average price of $10.03 and a 200-day moving average price of $9.70. The firm has a market cap of $14.66 billion, a price-to-earnings ratio of -4.74 and a beta of 2.09.

NIO (NYSE:NIO – Get Free Report) last posted its earnings results on Tuesday, August 29th. The company reported ($3.28) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 94.92% and a negative net margin of 42.97%. NIO’s quarterly revenue was down 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.25) earnings per share. As a group, equities research analysts predict that Nio Inc – will post -1.79 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on NIO shares. Citigroup boosted their price target on NIO from $13.90 to $19.20 in a research report on Friday, August 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of NIO from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, September 6th. JPMorgan Chase & Co. boosted their price objective on shares of NIO from $9.00 to $10.50 and gave the stock a “neutral” rating in a report on Wednesday, August 30th. CLSA decreased their price objective on shares of NIO from $18.00 to $14.00 in a report on Thursday, August 31st. Finally, Bank of America decreased their price objective on shares of NIO from $16.20 to $15.00 and set a “buy” rating for the company in a report on Wednesday, August 30th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, NIO presently has an average rating of “Hold” and a consensus price target of $12.68.

Check Out Our Latest Stock Analysis on NIO

NIO Company 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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