Belpointe Asset Management LLC lessened its position in shares of Nio Inc – (NYSE:NIO – Get Rating) by 80.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,976 shares of the company’s stock after selling 20,815 shares during the period. Belpointe Asset Management LLC’s holdings in NIO were worth $49,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. EWG Elevate Inc. bought a new position in NIO during the 4th quarter worth approximately $29,000. UMB Bank n.a. lifted its holdings in NIO by 64.4% during the 4th quarter. UMB Bank n.a. now owns 3,062 shares of the company’s stock worth $30,000 after buying an additional 1,200 shares during the last quarter. Spire Wealth Management lifted its holdings in NIO by 165.7% during the 4th quarter. Spire Wealth Management now owns 4,810 shares of the company’s stock worth $47,000 after buying an additional 3,000 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in shares of NIO by 10.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 10,592 shares of the company’s stock worth $103,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Brainard Capital Management LLC bought a new stake in shares of NIO in the 4th quarter worth approximately $122,000. Institutional investors own 30.06% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on NIO shares. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $14.00 to $10.00 in a report on Thursday, March 2nd. Morgan Stanley cut their price target on NIO from $16.10 to $12.00 in a report on Monday, March 20th. Barclays downgraded NIO from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $18.00 to $10.00 in a report on Thursday, March 2nd. Finally, Mizuho cut their price target on NIO from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, March 2nd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.52.
NIO Stock Down 0.5 %
NIO (NYSE:NIO – Get Rating) last announced its earnings results on Wednesday, March 1st. The company reported ($0.51) earnings per share for the quarter. NIO had a negative net margin of 29.32% and a negative return on equity of 47.74%. The business had revenue of $2.33 billion for the quarter. As a group, research analysts forecast that Nio Inc – will post -1.39 EPS for the current 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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