DnB Asset Management AS trimmed its position in Nio Inc – (NYSE:NIO – Get Rating) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 56,319 shares of the company’s stock after selling 625 shares during the quarter. DnB Asset Management AS’s holdings in NIO were worth $1,223,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of NIO. Joseph P. Lucia & Associates LLC bought a new stake in shares of NIO in the 1st quarter valued at about $25,000. Endurance Wealth Management Inc. raised its holdings in shares of NIO by 500.0% in the 1st quarter. Endurance Wealth Management Inc. now owns 1,200 shares of the company’s stock valued at $25,000 after purchasing an additional 1,000 shares during the period. Harbor Investment Advisory LLC grew its stake in NIO by 704.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,528 shares of the company’s stock valued at $32,000 after buying an additional 1,338 shares during the last quarter. Clearstead Advisors LLC grew its stake in NIO by 557.0% in the 1st quarter. Clearstead Advisors LLC now owns 1,511 shares of the company’s stock valued at $32,000 after buying an additional 1,281 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in NIO by 140.8% in the 1st quarter. HHM Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $37,000 after buying an additional 1,025 shares during the last quarter. 31.52% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently commented on the stock. HSBC upped their price target on shares of NIO from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, June 30th. Citigroup decreased their price target on shares of NIO from $41.10 to $31.30 and set a “buy” rating on the stock in a research note on Thursday, September 8th. Mizuho decreased their price target on shares of NIO from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, September 8th. Morgan Stanley decreased their price target on shares of NIO from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Friday, June 10th. Finally, Nomura decreased their price target on shares of NIO from $51.50 to $25.80 in a research note on Friday, July 1st. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, NIO presently has an average rating of “Moderate Buy” and an average target price of $37.59.
NIO Price Performance
NIO (NYSE:NIO – Get Rating) last issued its quarterly earnings data on Wednesday, September 7th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.03. The business had revenue of $10.29 billion during the quarter, compared to the consensus estimate of $9.77 billion. NIO had a negative net margin of 23.93% and a negative return on equity of 30.36%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) EPS. Research analysts predict that Nio Inc – will post -0.67 earnings per share for the current fiscal year.
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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