Cerity Partners LLC Increases Stock Position in Nio Inc – (NYSE:NIO)

Cerity Partners LLC grew its stake in Nio Inc – (NYSE:NIO) by 54.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,245 shares of the company’s stock after buying an additional 14,889 shares during the period. Cerity Partners LLC’s holdings in NIO were worth $383,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Electron Capital Partners LLC bought a new stake in NIO in the 3rd quarter worth approximately $37,918,000. Top Ace Asset Management Ltd purchased a new stake in shares of NIO in the 3rd quarter valued at $1,888,000. Banque Pictet & Cie SA purchased a new position in NIO in the 3rd quarter worth $2,486,000. TORQ CAPITAL MANAGEMENT HK Ltd lifted its stake in NIO by 275.1% in the third quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 284,700 shares of the company’s stock worth $2,574,000 after purchasing an additional 208,800 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in NIO by 7.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 60,178 shares of the company’s stock valued at $546,000 after buying an additional 4,045 shares during the period. Institutional investors own 48.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NIO shares. Jefferies Financial Group lowered their target price on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research note on Wednesday, March 6th. The Goldman Sachs Group began coverage on shares of NIO in a report on Wednesday, January 3rd. They issued a “neutral” rating on the stock. Bank of America decreased their price objective on shares of NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. JPMorgan Chase & Co. dropped their target price on shares of NIO from $5.00 to $4.80 and set an “underweight” rating for the company in a report on Wednesday, March 6th. Finally, Macquarie started coverage on NIO in a report on Monday, April 15th. They set a “neutral” rating and a $5.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.43.

NIO Stock Up 8.7 %

Shares of NYSE:NIO opened at $4.49 on Friday. The firm has a market capitalization of $7.72 billion, a P/E ratio of -2.57 and a beta of 1.93. The stock has a 50 day moving average price of $5.02 and a 200-day moving average price of $6.58. Nio Inc – has a 52-week low of $3.61 and a 52-week high of $16.18. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22.

NIO (NYSE:NIO) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $18.16 billion. During the same quarter last year, the company posted ($0.51) EPS. NIO’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Nio Inc – will post -1.26 EPS for the current fiscal year.

About NIO

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.