Credit Suisse AG Acquires 879,832 Shares of Nio Inc - (NYSE:NIO)

Credit Suisse AG boosted its holdings in shares of Nio Inc - (NYSE:NIO - Free Report) by 19.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,497,075 shares of the company's stock after purchasing an additional 879,832 shares during the quarter. Credit Suisse AG owned about 0.33% of NIO worth $53,267,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in NIO by 7.8% during the 2nd quarter. BlackRock Inc. now owns 66,794,714 shares of the company's stock valued at $647,241,000 after purchasing an additional 4,835,232 shares during the period. Vanguard Group Inc. boosted its stake in NIO by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 51,370,117 shares of the company's stock valued at $810,108,000 after purchasing an additional 1,113,194 shares during the period. Norges Bank bought a new stake in NIO during the 4th quarter valued at approximately $155,344,000. Legal & General Group Plc raised its holdings in NIO by 0.8% in the 4th quarter. Legal & General Group Plc now owns 11,086,052 shares of the company's stock valued at $108,089,000 after acquiring an additional 92,662 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in NIO by 20.8% in the 1st quarter. First Trust Advisors LP now owns 8,128,289 shares of the company's stock valued at $171,100,000 after acquiring an additional 1,399,601 shares in the last quarter. Institutional investors own 42.32% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. CLSA cut their price target on NIO from $18.00 to $14.00 in a report on Thursday, August 31st. Citigroup increased their target price on NIO from $13.90 to $19.20 in a report on Friday, August 4th. JPMorgan Chase & Co. increased their target price on NIO from $9.00 to $10.50 and gave the stock a "neutral" rating in a report on Wednesday, August 30th. Bank of America dropped their target price on NIO from $16.20 to $15.00 and set a "buy" rating for the company in a report on Wednesday, August 30th. Finally, Mizuho dropped their target price on NIO from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, August 30th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $12.80.

NIO Stock Down 1.5 %

Shares of NIO opened at $7.16 on Friday. The firm has a market capitalization of $12.31 billion, a price-to-earnings ratio of -3.98 and a beta of 2.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.82 and a current ratio of 1.00. The business's fifty day moving average price is $7.93 and its two-hundred day moving average price is $9.46. Nio Inc - has a 52 week low of $7.00 and a 52 week high of $16.18.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 29th. The company reported ($3.28) EPS for the quarter, missing analysts' consensus estimates of ($2.96) by ($0.32). The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $9.16 billion. NIO had a negative net margin of 42.97% and a negative return on equity of 94.92%. The firm's quarterly revenue was down 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.25) earnings per share. On average, analysts predict that Nio Inc - will post -1.79 earnings per share for the current year.

NIO 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.

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