MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in shares of Nio Inc - (NYSE:NIO - Free Report) by 13.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,019,391 shares of the company's stock after selling 163,400 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in NIO were worth $4,445,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of NIO during the 4th quarter worth $1,360,000. AlphaStar Capital Management LLC acquired a new position in shares of NIO during the 4th quarter worth $537,000. SIH Partners LLLP grew its stake in shares of NIO by 23.1% during the 4th quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock worth $4,071,000 after purchasing an additional 175,000 shares during the period. Arizona PSPRS Trust acquired a new position in shares of NIO during the 4th quarter worth $1,330,000. Finally, Raymond James Financial Inc. acquired a new position in shares of NIO during the 4th quarter worth $1,776,000. 48.55% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
NIO has been the topic of several recent research reports. Citigroup reiterated a "buy" rating on shares of NIO in a research report on Monday, April 28th. Cfra Research upgraded shares of NIO to a "hold" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Finally, Mizuho decreased their price objective on shares of NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $5.05.
Get Our Latest Report on NIO
NIO Price Performance
NYSE:NIO opened at $4.10 on Monday. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of -2.71 and a beta of 1.73. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company's 50-day moving average is $3.99 and its two-hundred day moving average is $4.32. Nio Inc - has a 12-month low of $3.02 and a 12-month high of $7.71.
NIO (NYSE:NIO - Get Free Report) last released its earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.14). The firm had revenue of $2.70 billion during the quarter, compared to analysts' expectations of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. NIO's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the company posted ($2.81) earnings per share. Research analysts expect that Nio Inc - will post -1.43 EPS for the current year.
NIO Company Profile
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Free Report)
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.
See Also
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