Hsbc Holdings PLC Sells 1,236,572 Shares of Nio Inc - (NYSE:NIO)

Hsbc Holdings PLC lessened its stake in shares of Nio Inc - (NYSE:NIO - Free Report) by 70.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 528,552 shares of the company's stock after selling 1,236,572 shares during the period. Hsbc Holdings PLC's holdings in NIO were worth $2,319,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Trexquant Investment LP bought a new stake in shares of NIO during the fourth quarter valued at approximately $3,305,000. SG Americas Securities LLC increased its stake in NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock valued at $5,018,000 after purchasing an additional 589,082 shares in the last quarter. Raymond James Financial Inc. acquired a new position in NIO during the fourth quarter worth $1,776,000. XY Capital Ltd acquired a new position in NIO during the fourth quarter worth $1,544,000. Finally, AI Squared Management Ltd bought a new position in shares of NIO in the fourth quarter valued at $1,491,000. 48.55% of the stock is owned by institutional investors.

NIO Stock Performance

NIO stock traded up $0.10 during midday trading on Friday, hitting $4.03. The company's stock had a trading volume of 27,951,052 shares, compared to its average volume of 55,407,101. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of -2.67 and a beta of 1.73. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock's 50-day moving average price is $4.10 and its 200 day moving average price is $4.41. Nio Inc - has a 1 year low of $3.02 and a 1 year high of $7.71.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company had revenue of $2.70 billion during the quarter, compared to analysts' expectations of $20.19 billion. During the same period last year, the firm posted ($2.81) earnings per share. NIO's quarterly revenue was up 15.2% compared to the same quarter last year. On average, equities analysts forecast that Nio Inc - will post -1.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NIO shares. Mizuho lowered 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. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and cut their target price for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. HSBC lowered NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, Cfra Research raised shares of NIO to a "hold" rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.05.

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.