E Fund Management Co. Ltd. Has $4.53 Million Stock Position in Nio Inc – (NYSE:NIO)

E Fund Management Co. Ltd. boosted its stake in shares of Nio Inc – (NYSE:NIO) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,089,571 shares of the company’s stock after buying an additional 26,253 shares during the period. E Fund Management Co. Ltd. owned approximately 0.06% of NIO worth $4,533,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in NIO during the 2nd quarter worth approximately $1,076,000. Greenwich Wealth Management LLC raised its holdings in shares of NIO by 12.9% in the second quarter. Greenwich Wealth Management LLC now owns 29,027 shares of the company’s stock valued at $121,000 after purchasing an additional 3,315 shares during the last quarter. Krane Funds Advisors LLC raised its holdings in shares of NIO by 31.7% in the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after purchasing an additional 370,556 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of NIO by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,303,549 shares of the company’s stock valued at $5,742,000 after purchasing an additional 3,548 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of NIO by 8.4% in the second quarter. American Century Companies Inc. now owns 434,248 shares of the company’s stock valued at $1,806,000 after purchasing an additional 33,788 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Price Performance

NYSE:NIO opened at $5.41 on Wednesday. Nio Inc – has a 1-year low of $3.61 and a 1-year high of $10.47. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $4.39 and a 200 day simple moving average of $4.69. The stock has a market capitalization of $9.30 billion, a PE ratio of -3.20 and a beta of 1.82.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting analysts’ consensus estimates of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The firm had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same period in the previous year, the business posted ($0.51) earnings per share. The company’s revenue for the quarter was up 98.9% compared to the same quarter last year. On average, research analysts expect that Nio Inc – will post -1.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NIO has been the topic of a number of recent research reports. Wolfe Research initiated coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Bank of America lifted their price objective on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Citigroup lowered their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.93.

About NIO

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.