Desjardins Global Asset Management Inc. Raises Holdings in Nio Inc – (NYSE:NIO)

Desjardins Global Asset Management Inc. grew its holdings in Nio Inc – (NYSE:NIO) by 29.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 57,903 shares of the company’s stock after buying an additional 13,239 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in NIO were worth $525,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NIO. Norges Bank purchased a new stake in NIO in the 4th quarter worth approximately $155,344,000. Two Sigma Investments LP purchased a new stake in NIO in the 1st quarter worth approximately $71,533,000. Renaissance Technologies LLC lifted its holdings in NIO by 2,377.8% in the 1st quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock worth $113,704,000 after buying an additional 5,183,600 shares during the period. Electron Capital Partners LLC purchased a new stake in NIO in the 3rd quarter worth approximately $37,918,000. Finally, Bank of America Corp DE lifted its holdings in NIO by 90.3% in the 1st quarter. Bank of America Corp DE now owns 6,499,102 shares of the company’s stock worth $68,306,000 after buying an additional 3,083,955 shares during the period. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Macquarie assumed coverage on NIO in a research note on Monday. They issued a “neutral” rating and a $5.00 target price for the company. The Goldman Sachs Group assumed coverage on NIO in a research note on Wednesday, January 3rd. They issued a “neutral” rating for the company. 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. Bank of America lowered their target price on NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Finally, Sanford C. Bernstein reduced their price objective on NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.43.

NIO Stock Performance

Shares of NIO opened at $3.92 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. Nio Inc – has a one year low of $3.71 and a one year high of $16.18. The business has a fifty day moving average of $5.25 and a 200 day moving average of $6.76.

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

NIO Company 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.