Northern Trust Corp trimmed its holdings in shares of Nio Inc - (NYSE:NIO - Free Report) by 52.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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.
Other hedge funds also recently made changes to their positions in the company. PDS Planning Inc increased its holdings in NIO by 13.0% in the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company's stock worth $99,000 after acquiring an additional 2,627 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in NIO by 25.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock valued at $59,000 after buying an additional 2,712 shares in the last quarter. Franklin Resources Inc. grew its holdings in NIO by 20.4% during the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock valued at $72,000 after buying an additional 2,788 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in NIO by 24.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock valued at $61,000 after buying an additional 2,867 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in NIO by 17.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company's stock valued at $94,000 after buying an additional 3,152 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on NIO shares. Cfra Research raised NIO to a "hold" rating in a report on Friday, March 21st. Citigroup reaffirmed a "buy" rating on shares of NIO in a report on Monday, April 28th. Mizuho dropped their price target on NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $5.05.
Read Our Latest Research Report on NIO
NIO Trading Down 3.5%
NIO stock traded down $0.13 during midday trading on Friday, hitting $3.55. The company had a trading volume of 37,134,877 shares, compared to its average volume of 53,220,515. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. Nio Inc - has a 52 week low of $3.02 and a 52 week high of $7.71. The stock's 50 day moving average price is $3.79 and its 200 day moving average price is $4.24. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of -2.35 and a beta of 1.73.
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). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the previous year, the firm posted ($2.81) EPS. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, equities research analysts expect that Nio Inc - will post -1.43 earnings per share for the current fiscal year.
NIO Company Profile
(
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.
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