Nio Inc – (NYSE:NIO) Shares Sold by Maxi Investments CY Ltd

Maxi Investments CY Ltd cut its stake in shares of Nio Inc – (NYSE:NIO) by 9.1% during the second quarter, Holdings Channel reports. The firm owned 198,950 shares of the company’s stock after selling 20,000 shares during the quarter. NIO makes up approximately 1.4% of Maxi Investments CY Ltd’s portfolio, making the stock its 24th largest holding. Maxi Investments CY Ltd’s holdings in NIO were worth $1,928,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Captrust Financial Advisors boosted its position in shares of NIO by 4.7% in the second quarter. Captrust Financial Advisors now owns 12,195 shares of the company’s stock worth $265,000 after buying an additional 546 shares during the period. Wetherby Asset Management Inc. boosted its position in NIO by 4.5% during the 1st quarter. Wetherby Asset Management Inc. now owns 16,714 shares of the company’s stock worth $352,000 after acquiring an additional 717 shares during the period. Parallel Advisors LLC grew its stake in NIO by 30.8% during the 2nd quarter. Parallel Advisors LLC now owns 3,453 shares of the company’s stock valued at $33,000 after acquiring an additional 814 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of NIO by 2.6% in the 2nd quarter. Cetera Investment Advisers now owns 38,271 shares of the company’s stock valued at $371,000 after purchasing an additional 987 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in shares of NIO by 2.1% in the second quarter. Oppenheimer & Co. Inc. now owns 47,933 shares of the company’s stock worth $464,000 after purchasing an additional 1,000 shares in the last quarter. 42.32% of the stock is owned by hedge funds and other institutional investors.

NIO Stock Performance

NIO stock traded down $0.21 during midday trading on Tuesday, hitting $7.59. 7,423,646 shares of the company traded hands, compared to its average volume of 50,305,383. Nio Inc – has a twelve month low of $7.00 and a twelve month high of $16.18. The stock has a market capitalization of $13.05 billion, a price-to-earnings ratio of -4.34 and a beta of 2.11. The company has a quick ratio of 0.82, a current ratio of 1.00 and a debt-to-equity ratio of 0.45. The business has a 50 day simple moving average of $8.38 and a 200-day simple moving average of $9.53.

NIO (NYSE:NIO) last posted its earnings results on Tuesday, August 29th. The company reported ($3.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.96) by ($0.32). The firm had revenue of $8.77 billion during the quarter, compared to analyst estimates of $9.16 billion. NIO had a negative net margin of 42.97% and a negative return on equity of 94.92%. The business’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.25) earnings per share. As a group, equities research analysts predict that Nio Inc – will post -1.79 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on NIO shares. CLSA lowered their price objective on shares of NIO from $18.00 to $14.00 in a research report on Thursday, August 31st. Sanford C. Bernstein dropped their price target on shares of NIO from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 30th. UBS Group increased their price objective on NIO from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, July 31st. JPMorgan Chase & Co. boosted their target price on NIO from $9.00 to $10.50 and gave the company a “neutral” rating in a research note on Wednesday, August 30th. Finally, Mizuho cut their price target on NIO from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, August 30th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.68.

NIO Profile

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.