Nio Inc - (NYSE:NIO) Stake Reduced by Vanguard Group Inc.

Vanguard Group Inc. trimmed its position in shares of Nio Inc - (NYSE:NIO - Free Report) by 89.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,963,732 shares of the company's stock after selling 43,045,839 shares during the period. Vanguard Group Inc. owned about 0.29% of NIO worth $44,872,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. boosted its holdings in NIO by 16.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 40,876 shares of the company's stock valued at $370,000 after purchasing an additional 5,900 shares in the last quarter. American Century Companies Inc. raised its stake in NIO by 9.4% during the 3rd quarter. American Century Companies Inc. now owns 339,323 shares of the company's stock worth $3,067,000 after acquiring an additional 29,283 shares in the last quarter. Banque Pictet & Cie SA purchased a new stake in NIO in the third quarter valued at $2,486,000. Public Sector Pension Investment Board boosted its stake in NIO by 0.8% in the third quarter. Public Sector Pension Investment Board now owns 480,003 shares of the company's stock valued at $4,339,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC purchased a new position in shares of NIO during the third quarter worth about $135,000. Institutional investors and hedge funds own 48.55% of the company's stock.

NIO Price Performance

Shares of NIO traded down $0.12 during mid-day trading on Wednesday, hitting $4.60. The company's stock had a trading volume of 32,406,928 shares, compared to its average volume of 56,976,059. The firm has a 50-day simple moving average of $5.44 and a 200 day simple moving average of $6.94. Nio Inc - has a 1-year low of $4.36 and a 1-year high of $16.18. The firm has a market capitalization of $7.90 billion, a P/E ratio of -2.63 and a beta of 1.93. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing analysts' consensus estimates of ($2.39) by ($0.42). NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $18.16 billion. During the same period last year, the company earned ($0.51) earnings per share. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts predict that Nio Inc - will post -1.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on NIO in a report on Wednesday, January 3rd. They issued a "neutral" rating for the company. Jefferies Financial Group decreased their price objective on NIO from $8.30 to $5.90 and set a "hold" rating for the company in a report on Wednesday, March 6th. Sanford C. Bernstein cut their target price on shares of NIO from $7.50 to $5.50 and set a "market perform" rating on the stock in a report on Thursday, March 7th. Bank of America decreased their price target on shares of NIO from $7.50 to $6.50 and set a "neutral" rating for the company in a research note on Wednesday, March 6th. Finally, Mizuho restated a "neutral" rating and issued a $5.50 price objective on shares of NIO in a research note on Monday, March 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $8.74.

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.