Nio Inc – (NYSE:NIO) Shares Sold by Swiss National Bank

Swiss National Bank decreased its position in Nio Inc – (NYSE:NIO) by 67.4% during the 3rd quarter, Holdings Channel reports. The fund owned 1,005,483 shares of the company’s stock after selling 2,075,048 shares during the quarter. Swiss National Bank’s holdings in NIO were worth $6,717,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its stake in shares of NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after buying an additional 4,018,659 shares in the last quarter. Krane Funds Advisors LLC boosted its position in shares of NIO by 31.7% during the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock worth $6,401,000 after purchasing an additional 370,556 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of NIO by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after purchasing an additional 343,910 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of NIO by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,303,549 shares of the company’s stock worth $5,742,000 after purchasing an additional 3,548 shares during the period. Finally, Swedbank AB acquired a new stake in shares of NIO in the first quarter valued at about $5,343,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

Analyst Ratings Changes

NIO has been the topic of several recent analyst reports. Citigroup lowered their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Bank of America lifted their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.71.

NIO Price Performance

NIO stock opened at $4.33 on Wednesday. The firm’s 50-day moving average is $5.48 and its two-hundred day moving average is $4.89. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a market capitalization of $7.44 billion, a P/E ratio of -2.91 and a beta of 1.91. Nio Inc – has a 12-month low of $3.61 and a 12-month high of $9.57.

NIO (NYSE:NIO) last released its earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same period in the previous year, the company earned ($0.51) EPS. NIO’s revenue for the quarter was up 98.9% on a year-over-year basis. Equities analysts predict that Nio Inc – will post -1.39 earnings per share for the current year.

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.