Nio Inc - (NYSE:NIO) Shares Sold by Northern Trust Corp

Northern Trust Corp reduced its position in shares of Nio Inc - (NYSE:NIO - Free Report) by 52.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 347,567 shares of the company's stock after selling 375,813 shares during the period. Northern Trust Corp's holdings in NIO were worth $1,515,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. SIH Partners LLLP lifted its position 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 last quarter. IHT Wealth Management LLC purchased a new stake in shares of NIO during the 4th quarter worth $57,000. J. Safra Sarasin Holding AG lifted its position in shares of NIO by 187.2% during the 4th quarter. J. Safra Sarasin Holding AG now owns 49,094 shares of the company's stock worth $214,000 after purchasing an additional 32,000 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of NIO by 17.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company's stock worth $94,000 after purchasing an additional 3,152 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of NIO by 112.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 125,400 shares of the company's stock worth $547,000 after purchasing an additional 66,321 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup reissued a "buy" rating on shares of NIO in a research report on Monday, April 28th. Mizuho reduced their price target on shares of NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Cfra Research raised shares of NIO to a "hold" rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. cut shares of NIO from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NIO presently has a consensus rating of "Hold" and an average target price of $5.05.

NIO Stock Down 0.3%

NIO traded down $0.01 during trading hours on Wednesday, reaching $3.68. 26,957,459 shares of the stock traded hands, compared to its average volume of 53,446,685. The firm's fifty day simple moving average is $3.82 and its two-hundred day simple moving average is $4.26. The company has a market cap of $7.68 billion, a price-to-earnings ratio of -2.44 and a beta of 1.73. Nio Inc - has a fifty-two week low of $3.02 and a fifty-two week high of $7.71. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. NIO's revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the business earned ($2.81) earnings per share. As a group, analysts forecast that Nio Inc - will post -1.43 earnings per share for the current fiscal 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.