Legal & General Group Plc Sells 4,702,959 Shares of Nio Inc - (NYSE:NIO)

Legal & General Group Plc cut its holdings in Nio Inc - (NYSE:NIO - Free Report) by 42.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,301,731 shares of the company's stock after selling 4,702,959 shares during the quarter. Legal & General Group Plc owned about 0.30% of NIO worth $27,507,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Trexquant Investment LP acquired a new position in shares of NIO in the fourth quarter valued at approximately $3,305,000. SG Americas Securities LLC raised its stake in shares of NIO by 104.8% in 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 during the period. Raymond James Financial Inc. bought a new stake in shares of NIO in the fourth quarter valued at about $1,776,000. XY Capital Ltd acquired a new position in shares of NIO during the fourth quarter worth about $1,544,000. Finally, AI Squared Management Ltd acquired a new stake in NIO in the 4th quarter valued at approximately $1,491,000. 48.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on NIO. Mizuho reduced 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. HSBC cut shares of NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Citigroup lowered their price target on shares of NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a research note on Monday, March 24th. Hsbc Global Res downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $5.05.

NIO Stock Performance

Shares of NIO stock traded down $0.01 on Thursday, reaching $3.52. The stock had a trading volume of 7,357,626 shares, compared to its average volume of 55,998,538. Nio Inc - has a 12 month low of $3.02 and a 12 month high of $7.71. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of -2.33 and a beta of 1.74. The firm's 50-day moving average is $4.19 and its two-hundred day moving average is $4.63. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings data 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). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the previous year, the business earned ($2.81) earnings per share. The business's quarterly revenue was up 15.2% on a year-over-year basis. On average, research analysts expect 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.