IFM Investors Pty Ltd purchased a new position in Nio Inc – (NYSE:NIO – Get Rating) during the first quarter, according to its most recent filing with the SEC. The institutional investor bought 57,645 shares of the company’s shares for approximately $1,213,000.
Several other institutional investors have also recently bought and sold shares in the company. Allspring Global Investments Holdings LLC bought a new position in NIO stock valued at approximately $1,994,000 during the fourth quarter. Yousif Capital Management LLC acquired a new position in NIO valued at $1,400,000 during the fourth quarter. CWM LLC purchased a new position in NIO valued at $272,000 during the fourth quarter. Qube Research & Technologies Ltd acquired a new holding in NIO stock valued at $2,103,000 during the fourth quarter. Finally, KBC Group NV increased its position in NIO shares by 9.6% in the fourth quarter. KBC Group NV now owns 246,974 shares in the company, valued at $7,824,000, after purchasing a further 21,554 shares last quarter. 42.98% of the shares are owned by hedge funds and other institutional investors.
NIO stock down 3.3%
Shares of NIO stock opened at $20.22 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.93 and a debt-to-equity ratio of 0.33. The company’s 50-day simple moving average is $20.33 and its 200-day simple moving average is $20.01. The stock has a market cap of $33.75 billion, a price-to-earnings ratio of -27.32 and a beta of 1.98. Nio Inc – has a 12-month low of $11.67 and a 12-month high of $46.38.
NIO (NYSE:NIO – Get Rating) last released its quarterly earnings data on Thursday, June 9th. The company reported earnings per share (EPS) of $0.79 for the quarter, beating analyst consensus estimates of $1.03 by $0.24. The company had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.86 billion. NIO had a negative return on equity of 24.99% and a negative net margin of 19.67%. The company’s revenue for the quarter increased 24.2% compared to the same quarter last year. For the same period last year, the company posted ($0.48) EPS. Equities Research analysts are forecasting that Nio Inc – will report -0.64 earnings per share for the year to date.
Wall Street analyst ponders
A number of equity analysts have commented on NIO stocks. HSBC raised its price target on NIO shares to $28.00 from $26.00 and gave the stock a “buy” rating in a report on Thursday, June 30. Mizuho lowered its price target on NIO to $48.00 from $55.00 and issued a research note issuing a “buy” rating to the company on Monday, June 27. Bank of America upgraded NIO to a “buy” rating from a “neutral” rating, setting a price target of $26.00 for the company in a report Monday, May 16. Morgan Stanley lowered its price target on NIO to $31.00 from $34.00 and gave the company an “overweight” rating in a report on Friday, June 10. Finally, Citigroup lowered its price target on NIO to $41.10 from $87.00 and gave the stock a “buy” rating in a research report on Tuesday, June 21. One research analyst has rated the stock with a hold and fourteen have given a buy rating to the company. According to MarketBeat, NIO has a consensus rating of “Moderate Buy” and a consensus target of $38.71.
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-powertrains, battery packs and components; and race management, technology development, and sales and after-sales management activities. In addition, it offers energy solutions for battery charging needs; and other value-added services.
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