Natixis Sells 478,690 Shares of Nio Inc – (NYSE:NIO)

Natixis cut its stake in Nio Inc – (NYSE:NIO) by 46.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 545,305 shares of the company’s stock after selling 478,690 shares during the quarter. Natixis’ holdings in NIO were worth $2,454,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NIO. Hsbc Holdings PLC grew its stake in shares of NIO by 238.6% in the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after acquiring an additional 4,976,403 shares during the period. Quadrature Capital Ltd purchased a new position in NIO during the fourth quarter valued at approximately $12,361,000. Norges Bank purchased a new position in NIO during the fourth quarter valued at approximately $9,652,000. AMF Tjanstepension AB lifted its holdings in NIO by 132.4% during the first quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock valued at $7,030,000 after purchasing an additional 889,900 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in NIO by 64.6% during the first quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock valued at $8,530,000 after purchasing an additional 744,067 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NIO shares. Citigroup lowered their price target on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a report on Thursday, June 6th. JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $4.80 to $5.40 in a report on Wednesday, May 15th. Barclays reissued an “underweight” rating and issued a $4.00 target price (down previously from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Bank of America boosted their target price on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. Finally, Macquarie began coverage on shares of NIO in a report on Monday, April 15th. They issued a “neutral” rating and a $5.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.55.

NIO Price Performance

NIO stock traded down $0.01 during trading on Thursday, hitting $4.29. 39,994,347 shares of the company’s stock traded hands, compared to its average volume of 53,603,637. Nio Inc – has a 52 week low of $3.61 and a 52 week high of $16.18. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of -2.60 and a beta of 1.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. The business has a fifty day simple moving average of $4.72 and a 200 day simple moving average of $5.19.

NIO (NYSE:NIO) last announced its earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.05). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, research analysts expect that Nio Inc – will post -1.41 EPS for the current fiscal 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.