Voloridge Investment Management LLC Decreases Stock Holdings in Nio Inc - (NYSE:NIO)

Voloridge Investment Management LLC reduced its holdings in Nio Inc - (NYSE:NIO - Free Report) by 72.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 942,128 shares of the company's stock after selling 2,461,421 shares during the period. Voloridge Investment Management LLC's holdings in NIO were worth $4,108,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NIO. Bridgewater Associates LP grew its position in NIO by 28.6% in the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock valued at $5,170,000 after purchasing an additional 263,338 shares in the last quarter. Swedbank AB boosted its position in NIO by 0.8% in the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company's stock valued at $4,657,000 after buying an additional 9,000 shares in the last quarter. SIH Partners LLLP boosted its position in 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 buying an additional 175,000 shares during the period. Trexquant Investment LP acquired a new position in shares of NIO in the fourth quarter worth approximately $3,305,000. Finally, Handelsbanken Fonder AB grew its holdings in NIO by 27.7% during the 4th quarter. Handelsbanken Fonder AB now owns 726,014 shares of the company's stock worth $3,165,000 after acquiring an additional 157,333 shares during the period. Institutional investors and hedge funds own 48.55% of the company's stock.

Wall Street Analysts Forecast Growth

NIO has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Citigroup reaffirmed a "buy" rating on shares of NIO in a report on Monday, April 28th. Mizuho decreased their target price on shares of NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Cfra Research raised NIO to a "hold" rating in a report on Friday, March 21st. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $5.05.

NIO Stock Performance

NYSE NIO traded down $0.01 during mid-day trading on Wednesday, reaching $3.68. 26,957,459 shares of the stock were exchanged, compared to its average volume of 53,446,685. The business's 50 day moving average is $3.84 and its 200-day moving average is $4.26. Nio Inc - has a 1 year low of $3.02 and a 1 year high of $7.71. The company has a market capitalization of $7.68 billion, a P/E ratio of -2.44 and a beta of 1.73. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.81) EPS. On average, equities research analysts forecast that Nio Inc - will post -1.43 EPS for the current fiscal year.

NIO Company 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.