Thrivent Financial for Lutherans Has $1.45 Million Stock Position in Nio Inc – (NYSE:NIO)

Thrivent Financial for Lutherans raised its stake in Nio Inc – (NYSE:NIO – Get Rating) by 36.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 149,132 shares of the company’s stock after buying an additional 39,761 shares during the quarter. Thrivent Financial for Lutherans’ holdings in NIO were worth $1,454,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS Oconnor LLC acquired a new position in NIO in the 3rd quarter worth $2,881,000. Yousif Capital Management LLC boosted its position in shares of NIO by 15.0% during the third quarter. Yousif Capital Management LLC now owns 50,824 shares of the company’s stock worth $801,000 after buying an additional 6,645 shares during the period. Spire Wealth Management grew its holdings in shares of NIO by 165.7% during the fourth quarter. Spire Wealth Management now owns 4,810 shares of the company’s stock worth $47,000 after buying an additional 3,000 shares in the last quarter. EWG Elevate Inc. acquired a new stake in NIO in the 4th quarter valued at approximately $29,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in NIO by 12.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 120,960 shares of the company’s stock valued at $1,908,000 after acquiring an additional 13,000 shares in the last quarter. Institutional investors and hedge funds own 30.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $14.00 to $10.00 in a report on Thursday, March 2nd. Barclays downgraded shares of NIO from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $18.00 to $10.00 in a research note on Thursday, March 2nd. Mizuho lowered their target price on NIO from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, March 2nd. Finally, Morgan Stanley dropped their target price on NIO from $16.10 to $12.00 in a report on Monday, March 20th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, NIO currently has an average rating of “Moderate Buy” and an average target price of $17.52.

NIO Price Performance

NYSE:NIO opened at $8.07 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.29 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average price is $8.66 and its two-hundred day moving average price is $10.09. The firm has a market capitalization of $13.47 billion, a price-to-earnings ratio of -6.21 and a beta of 1.92. Nio Inc – has a 12-month low of $7.33 and a 12-month high of $24.43.

NIO (NYSE:NIO – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The company reported ($0.51) earnings per share (EPS) for the quarter. The business had revenue of $2.33 billion during the quarter. NIO had a negative net margin of 29.32% and a negative return on equity of 47.74%. On average, analysts anticipate that Nio Inc – will post -1.39 earnings per share for the current year.

About NIO

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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.