abrdn plc raised its position in Nio Inc - (NYSE:NIO - Get Rating) by 33.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 652,107 shares of the company's stock after buying an additional 165,232 shares during the quarter. abrdn plc's holdings in NIO were worth $6,358,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of NIO by 127.6% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 770,160 shares of the company's stock valued at $15,172,000 after purchasing an additional 431,851 shares during the period. US Bancorp DE increased its holdings in shares of NIO by 19.9% in the first quarter. US Bancorp DE now owns 18,593 shares of the company's stock valued at $392,000 after purchasing an additional 3,092 shares during the period. Cibc World Market Inc. increased its holdings in shares of NIO by 23.6% in the first quarter. Cibc World Market Inc. now owns 38,708 shares of the company's stock valued at $815,000 after purchasing an additional 7,396 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of NIO by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,705,563 shares of the company's stock valued at $57,007,000 after purchasing an additional 48,720 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of NIO by 45.6% in the first quarter. Sei Investments Co. now owns 338,913 shares of the company's stock valued at $7,134,000 after purchasing an additional 106,140 shares during the period. Hedge funds and other institutional investors own 30.06% of the company's stock.
Analyst Ratings Changes
NIO has been the topic of a number of recent analyst reports. Barclays lowered NIO from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $18.00 to $10.00 in a report on Thursday, March 2nd. Morgan Stanley dropped their price objective on NIO from $16.10 to $12.00 in a report on Monday, March 20th. Mizuho dropped their price objective on NIO from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, March 2nd. Finally, JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $14.00 to $10.00 in a report on Thursday, March 2nd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, NIO currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.52.
NIO Price Performance
Shares of NYSE:NIO opened at $8.07 on Monday. The stock's fifty day simple moving average is $8.66 and its 200-day simple moving average is $10.09. Nio Inc - has a 52-week low of $7.33 and a 52-week high of $24.43. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.11 and a current ratio of 1.29.
NIO (NYSE:NIO - Get Rating) last released its earnings results on Wednesday, March 1st. The company reported ($0.51) earnings per share for the quarter. NIO had a negative return on equity of 47.74% and a negative net margin of 29.32%. The business had revenue of $2.33 billion for the quarter. On average, research analysts predict that Nio Inc - will post -1.39 EPS for the current year.
About NIO
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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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