Accuvest Global Advisors Buys New Position in 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 bought a new position in NIO Inc. (NYSE:NIO - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 86,939 shares of the company's stock, valued at approximately $331,000.

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

Analyst Upgrades and Downgrades

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

NIO Price Performance

Shares of NIO traded up $0.16 during trading hours on Friday, reaching $4.84. 35,835,825 shares of the company traded hands, compared to its average volume of 79,209,104. The stock has a fifty day simple moving average of $3.98 and a 200 day simple moving average of $4.06. NIO Inc. has a fifty-two week low of $3.02 and a fifty-two week high of $7.71. The stock has a market capitalization of $10.10 billion, a PE ratio of -2.99 and a beta of 1.42. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 1.89.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $12.46 billion. NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The business's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the business earned ($2.39) earnings per share. As a group, research analysts predict that NIO Inc. will post -1.43 EPS 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.