Ameriprise Financial Inc. Reduces Holdings in Nio Inc - (NYSE:NIO)

Ameriprise Financial Inc. reduced its stake in shares of Nio Inc - (NYSE:NIO - Free Report) by 57.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 290,014 shares of the company's stock after selling 386,834 shares during the period. Ameriprise Financial Inc.'s holdings in NIO were worth $1,264,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings 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 purchasing an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after purchasing an additional 4,332 shares during the period. Callan Family Office LLC purchased a new stake in shares of NIO during the fourth quarter worth approximately $44,000. Sava Infond d.o.o. acquired a new stake in NIO in the fourth quarter valued at $44,000. Finally, Trilogy Capital Inc. purchased a new position in NIO in the fourth quarter valued at approximately $45,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Trading Up 6.5%

NIO traded up $0.23 on Wednesday, reaching $3.76. 72,454,980 shares of the company's stock were exchanged, compared to its average volume of 53,330,196. Nio Inc - has a twelve month low of $3.02 and a twelve month high of $7.71. The company's 50 day moving average is $3.77 and its 200-day moving average is $4.22. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The company has a market cap of $7.85 billion, a price-to-earnings ratio of -2.49 and a beta of 1.73.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $12.46 billion. During the same period last year, the firm earned ($2.39) earnings per share. The company's quarterly revenue was up 21.5% on a year-over-year basis. Equities analysts predict that Nio Inc - will post -1.43 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on NIO shares. Barclays dropped their price objective on shares of NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a research note on Wednesday. Citigroup restated a "buy" rating on shares of NIO in a research report on Monday, April 28th. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Mizuho dropped their price objective on shares of NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Tuesday. Finally, Cfra Research raised NIO to a "hold" rating in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NIO has a consensus rating of "Hold" and a consensus target price of $4.76.

NIO 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.