Commonwealth Equity Services LLC Buys 2,163 Shares of Nio Inc – (NYSE:NIO)

Commonwealth Equity Services LLC lifted its stake in Nio Inc – (NYSE:NIOGet Rating) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 266,824 shares of the company’s stock after buying an additional 2,163 shares during the period. Commonwealth Equity Services LLC’s holdings in NIO were worth $5,616,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. State Street Corp lifted its stake in NIO by 2.0% during the fourth quarter. State Street Corp now owns 32,887,731 shares of the company’s stock worth $1,041,883,000 after purchasing an additional 658,909 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in NIO during the fourth quarter worth $2,103,000. Geode Capital Management LLC lifted its stake in NIO by 10.2% during the fourth quarter. Geode Capital Management LLC now owns 5,539,804 shares of the company’s stock worth $174,261,000 after purchasing an additional 513,784 shares during the last quarter. Rafferty Asset Management LLC bought a new stake in NIO during the fourth quarter worth $279,000. Finally, 180 Wealth Advisors LLC lifted its stake in NIO by 3.2% during the first quarter. 180 Wealth Advisors LLC now owns 42,781 shares of the company’s stock worth $850,000 after purchasing an additional 1,314 shares during the last quarter. 42.98% of the stock is currently owned by institutional investors.

NIO Stock Performance

Shares of NIO stock opened at $20.30 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.93 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $20.16 and a two-hundred day moving average price of $20.27. Nio Inc – has a 1-year low of $11.67 and a 1-year high of $46.38. The company has a market cap of $33.88 billion, a P/E ratio of -27.43 and a beta of 1.98.

NIO (NYSE:NIOGet Rating) last issued its quarterly earnings results on Thursday, June 9th. The company reported ($0.79) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.24. NIO had a negative return on equity of 24.99% and a negative net margin of 19.67%. The firm had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.86 billion. During the same period last year, the business posted ($0.48) EPS. The business’s revenue was up 24.2% compared to the same quarter last year. As a group, analysts anticipate that Nio Inc – will post -0.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of NIO from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, June 10th. Bank of America upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a report on Monday, May 16th. Mizuho lowered their price target on shares of NIO from $55.00 to $48.00 and set a “buy” rating for the company in a report on Monday, June 27th. HSBC upped their price target on shares of NIO from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, June 30th. Finally, Nomura lowered their price target on shares of NIO from $51.50 to $25.80 in a report on Friday, July 1st. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.71.

NIO Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for NIO (NYSE:NIO)

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