Ensign Peak Advisors Inc Cuts Holdings in Nio Inc - (NYSE:NIO)

Ensign Peak Advisors Inc lowered its stake in Nio Inc - (NYSE:NIO - Free Report) by 89.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,371 shares of the company's stock after selling 141,050 shares during the period. Ensign Peak Advisors Inc's holdings in NIO were worth $76,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NIO. Blue Trust Inc. lifted its position in NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after acquiring an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of NIO by 131.8% during the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after buying an additional 4,332 shares during the period. Callan Family Office LLC bought a new position in shares of NIO during the 4th quarter valued at $44,000. Sava Infond d.o.o. bought a new position in shares of NIO during the 4th quarter valued at $44,000. Finally, Trilogy Capital Inc. bought a new position in shares of NIO during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NIO. Mizuho lowered their price target on NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Citigroup reiterated a "buy" rating on shares of NIO in a research note on Monday, April 28th. Cfra Research upgraded NIO to a "hold" rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. downgraded shares of NIO from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, NIO currently has a consensus rating of "Hold" and an average target price of $5.05.

NIO Trading Up 2.6%

Shares of NIO stock traded up $0.11 on Friday, hitting $4.10. 25,538,404 shares of the company traded hands, compared to its average volume of 54,057,281. The stock's 50 day moving average price is $3.99 and its 200-day moving average price is $4.33. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. Nio Inc - has a 52 week low of $3.02 and a 52 week high of $7.71. The company has a market cap of $8.55 billion, a PE ratio of -2.71 and a beta of 1.73.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.14). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the prior year, the firm posted ($2.81) EPS. The business's revenue was up 15.2% on a year-over-year basis. Equities research analysts predict that Nio Inc - will post -1.43 EPS for the current 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.