Zurcher Kantonalbank Zurich Cantonalbank Has $5.76 Million Holdings in Nio Inc - (NYSE:NIO)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Nio Inc - (NYSE:NIO - Free Report) by 57.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 634,848 shares of the company's stock after purchasing an additional 230,807 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in NIO were worth $5,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Electron Capital Partners LLC purchased a new stake in shares of NIO in the third quarter valued at approximately $37,918,000. Royal London Asset Management Ltd. grew its position in NIO by 11.9% in the third quarter. Royal London Asset Management Ltd. now owns 2,308,000 shares of the company's stock worth $20,853,000 after acquiring an additional 245,800 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in NIO by 7.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,055,591 shares of the company's stock worth $18,583,000 after acquiring an additional 134,234 shares during the period. DekaBank Deutsche Girozentrale grew its position in NIO by 1.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,337,221 shares of the company's stock worth $12,608,000 after acquiring an additional 13,853 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in NIO by 4.5% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,279,198 shares of the company's stock worth $11,602,000 after acquiring an additional 54,682 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on NIO. Jefferies Financial Group reduced their price objective on NIO from $8.30 to $5.90 and set a "hold" rating on the stock in a research note on Wednesday, March 6th. Barclays reiterated an "underweight" rating and issued a $4.00 price objective (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. The Goldman Sachs Group began coverage on NIO in a research note on Wednesday, January 3rd. They issued a "neutral" rating on the stock. Macquarie began coverage on NIO in a research note on Monday, April 15th. They issued a "neutral" rating and a $5.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on NIO from $5.00 to $4.80 and set an "underweight" rating on the stock in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $8.43.

NIO Stock Performance

Shares of NYSE NIO traded up $0.20 during midday trading on Monday, reaching $4.00. 59,881,368 shares of the company were exchanged, compared to its average volume of 56,252,734. 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 Inc - has a 1 year low of $3.61 and a 1 year high of $16.18. The stock has a fifty day simple moving average of $5.17 and a 200 day simple moving average of $6.68. The stock has a market cap of $6.88 billion, a P/E ratio of -2.22 and a beta of 1.93.

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

About NIO

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.