Profund Advisors LLC cut its stake in Nio Inc – (NYSE:NIO – Free Report) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,424 shares of the company’s stock after selling 8,612 shares during the quarter. Profund Advisors LLC’s holdings in NIO were worth $1,555,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of NIO. Quadrant Capital Group LLC lifted its position in shares of NIO by 159.6% during the second quarter. Quadrant Capital Group LLC now owns 22,002 shares of the company’s stock worth $213,000 after purchasing an additional 13,528 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of NIO by 52.3% during the second quarter. Artisan Partners Limited Partnership now owns 569,869 shares of the company’s stock worth $5,522,000 after purchasing an additional 195,748 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of NIO by 11.8% during the second quarter. Private Advisor Group LLC now owns 76,682 shares of the company’s stock worth $743,000 after purchasing an additional 8,101 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of NIO by 2.6% during the second quarter. Cetera Investment Advisers now owns 38,271 shares of the company’s stock worth $371,000 after purchasing an additional 987 shares during the last quarter. Finally, Spire Wealth Management lifted its position in shares of NIO by 61.6% during the second quarter. Spire Wealth Management now owns 8,501 shares of the company’s stock worth $82,000 after purchasing an additional 3,242 shares during the last quarter. 42.32% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. Bank of America decreased their target price on NIO from $16.20 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 30th. UBS Group lifted their price objective on NIO from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, July 31st. Citigroup lifted their price objective on NIO from $13.90 to $19.20 in a report on Friday, August 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on NIO from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, September 6th. Finally, Mizuho decreased their price objective on NIO from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, August 30th. Seven equities research 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 presently has an average rating of “Hold” and a consensus price target of $12.68.
NIO Price Performance
NIO opened at $7.81 on Tuesday. The business’s 50-day moving average is $8.38 and its two-hundred day moving average is $9.53. Nio Inc – has a 1 year low of $7.00 and a 1 year high of $16.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.00 and a quick ratio of 0.82. The firm has a market capitalization of $13.42 billion, a PE ratio of -4.34 and a beta of 2.11.
NIO (NYSE:NIO – Get Free Report) last issued its quarterly earnings results on Tuesday, August 29th. The company reported ($3.28) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $9.16 billion. During the same quarter in the previous year, the firm posted ($0.25) EPS. NIO’s revenue was down 14.8% on a year-over-year basis. Research analysts anticipate that Nio Inc – will post -1.79 earnings per share for the current fiscal year.
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.
- Five stocks we like better than NIO
- Comparing and Trading High PE Ratio Stocks
- Safeguard your portfolio with these three bargain stocks
- What Does the Consumer Price Index Measure?
- Membership clubs gain leverage for the consumer rebound
- What is Short Interest? How to Use It
- Advanced Auto Parts may be worth more in pieces than the whole
Receive News & Ratings for NIO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIO and related companies with MarketBeat.com's FREE daily email newsletter.