Accuvest Global Advisors Purchases Shares of 86,939 NIO Inc. (NYSE:NIO)

Key Points

• Accuvest Global Advisors has acquired a new position in NIO Inc., purchasing 86,939 shares valued at around $331,000 during the first quarter of the year.
• Several institutional investors, including Xponance Inc., Blueshift Asset Management, and Concurrent Investment Advisors, have also increased their stakes in NIO, contributing to an institutional ownership of 48.55% of the company's stock.
• Recent analyst ratings indicate mixed sentiment, with Mizuho and Barclays lowering their price targets, while Goldman Sachs upgraded their rating, reflecting an overall average target price of $4.74 for NIO stock.

Accuvest Global Advisors acquired a new position in NIO Inc. (NYSE:NIO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 86,939 shares of the company's stock, valued at approximately $331,000.

Several other institutional investors have also recently made changes to their positions in the business. Xponance Inc. bought a new stake in shares of NIO during the first quarter valued at approximately $39,000. Blueshift Asset Management LLC bought a new position in shares of NIO during the 1st quarter valued at about $43,000. Annex Advisory Services LLC purchased a new position in shares of NIO during the first quarter valued at about $47,000. May Hill Capital LLC purchased a new position in shares of NIO during the first quarter valued at about $48,000. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of NIO in the first quarter worth about $50,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Mizuho cut their price target on NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Barclays lowered their price objective on shares of NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research report on Wednesday, June 4th. The Goldman Sachs Group upgraded shares of NIO from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $3.70 to $3.80 in a report on Tuesday, June 17th. Citigroup reaffirmed a "buy" rating on shares of NIO in a report on Monday, April 28th. Finally, Morgan Stanley reiterated a "buy" rating on shares of NIO in a research report on Monday, July 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, NIO has an average rating of "Hold" and an average target price of $4.74.

NIO Stock Up 2.3%

Shares of NYSE NIO opened at $4.61 on Thursday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.84 and a quick ratio of 0.69. The company has a market cap of $9.61 billion, a P/E ratio of -2.84 and a beta of 1.42. NIO Inc. has a 1 year low of $3.02 and a 1 year high of $7.71. The firm has a 50-day simple moving average of $3.93 and a two-hundred day simple moving average of $4.06.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $12.46 billion. NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. NIO's revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the business posted ($2.39) earnings per share. Research analysts anticipate that NIO Inc. will post -1.43 earnings per share for the current year.

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.

Want to see what other hedge funds are holding NIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIO Inc. (NYSE:NIO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.