180 Wealth Advisors LLC raised its holdings in Nio Inc – (NYSE:NIO – Free Report) by 7.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,265 shares of the company’s stock after purchasing an additional 4,213 shares during the period. 180 Wealth Advisors LLC’s holdings in NIO were worth $614,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of NIO by 2.7% in the first quarter. BlackRock Inc. now owns 61,959,482 shares of the company’s stock worth $651,194,000 after purchasing an additional 1,600,520 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of NIO by 2.2% in the third quarter. Vanguard Group Inc. now owns 51,370,117 shares of the company’s stock worth $810,108,000 after purchasing an additional 1,113,194 shares in the last quarter. Norges Bank purchased a new position in shares of NIO in the fourth quarter worth about $155,344,000. Legal & General Group Plc increased its stake in shares of NIO by 0.8% in the fourth quarter. Legal & General Group Plc now owns 11,086,052 shares of the company’s stock worth $108,089,000 after purchasing an additional 92,662 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of NIO by 20.8% in the first quarter. First Trust Advisors LP now owns 8,128,289 shares of the company’s stock worth $171,100,000 after purchasing an additional 1,399,601 shares in the last quarter. Hedge funds and other institutional investors own 42.32% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Mizuho reduced their target price on shares of NIO from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, August 30th. Nomura lowered shares of NIO from a “buy” rating to a “neutral” rating and cut their price objective for the company from $25.80 to $7.50 in a research report on Monday, June 12th. Bank of America cut their price objective on shares of NIO from $16.20 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 30th. Sanford C. Bernstein cut their price objective on shares of NIO from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Wednesday, August 30th. Finally, UBS Group raised their price objective on shares of NIO from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, July 31st. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.68.
NIO Price Performance
Shares of NIO stock opened at $10.32 on Tuesday. Nio Inc – has a 1 year low of $7.00 and a 1 year high of $20.96. The company has a current ratio of 1.00, a quick ratio of 0.82 and a debt-to-equity ratio of 0.45. The company has a 50 day simple moving average of $11.68 and a two-hundred day simple moving average of $9.76.
NIO (NYSE:NIO – Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $9.16 billion. NIO had a negative return on equity of 94.92% and a negative net margin of 42.97%. The company’s revenue was down 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. As a group, research analysts anticipate that Nio Inc – will post -1.77 earnings per share 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.
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