American Century Companies Inc. Increases Holdings in NIO Inc. $NIO

Key Points

• American Century Companies Inc. increased its stake in NIO Inc. by 18.0% during the first quarter, owning 702,772 shares worth approximately $2.68 million.
• Several institutional investors, including SG Americas Securities LLC and Trilogy Capital Inc., have made significant increases in their holdings of NIO, collectively indicating growing confidence in the company's future.
• Analyst ratings for NIO shares are mixed, with a consensus rating of "Hold" and a target price averaging around $5.21, reflecting a range of opinions on the stock's potential.

American Century Companies Inc. lifted its position in shares of NIO Inc. (NYSE:NIO - Free Report) by 18.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 702,772 shares of the company's stock after acquiring an additional 107,239 shares during the period. American Century Companies Inc.'s holdings in NIO were worth $2,678,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Cantor Fitzgerald L. P. increased its stake in shares of NIO by 281.0% in the 4th quarter. Cantor Fitzgerald L. P. now owns 49,863 shares of the company's stock valued at $217,000 after purchasing an additional 36,774 shares during the last quarter. Ethic Inc. boosted its stake in NIO by 147.5% in the fourth quarter. Ethic Inc. now owns 119,432 shares of the company's stock valued at $521,000 after buying an additional 71,184 shares in the last quarter. J. Goldman & Co LP bought a new stake in shares of NIO during the 4th quarter valued at approximately $541,000. Laird Norton Wetherby Wealth Management LLC increased its position in NIO by 15.1% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company's stock worth $290,000 after purchasing an additional 8,746 shares in the last quarter. Finally, Laird Norton Wetherby Trust Company LLC bought a new position in NIO in the 4th quarter valued at approximately $93,000. 48.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

NIO has been the topic of a number of research reports. Mizuho boosted their target price on shares of NIO from $3.50 to $6.00 and gave the stock a "neutral" rating in a research note on Wednesday. Bank of America increased their target price on NIO from $5.00 to $7.10 and gave the company a "neutral" rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of NIO from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $4.80 to $8.00 in a report on Tuesday, August 26th. Morgan Stanley reissued a "buy" rating on shares of NIO in a report on Monday, July 14th. Finally, The Goldman Sachs Group raised shares of NIO from a "sell" rating to a "neutral" rating and raised their price target for the company from $3.70 to $3.80 in a research note on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, NIO currently has an average rating of "Hold" and a consensus price target of $5.83.

NIO Stock Down 3.1%

NIO stock traded down $0.20 during trading on Thursday, reaching $6.12. 72,564,514 shares of the stock were exchanged, compared to its average volume of 82,912,416. The firm's 50 day moving average is $4.78 and its 200 day moving average is $4.25. NIO Inc. has a twelve month low of $3.02 and a twelve month high of $7.71. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 1.89. The firm has a market cap of $12.78 billion, a P/E ratio of -3.83 and a beta of 1.20.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings data 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). NIO had a negative return on equity of 589.46% and a negative net margin of 34.71%.The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $12.46 billion. During the same period last year, the company posted ($2.39) EPS. The business's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, research analysts forecast that NIO Inc. will post -1.43 EPS 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.