Private Advisor Group LLC Acquires New Position in Nio Inc – (NYSE:NIO)

Private Advisor Group LLC bought a new position in Nio Inc – (NYSE:NIO) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 68,581 shares of the company’s stock, valued at approximately $721,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. boosted its position in NIO by 127.6% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 770,160 shares of the company’s stock valued at $15,172,000 after acquiring an additional 431,851 shares in the last quarter. US Bancorp DE lifted its stake in shares of NIO by 19.9% during the first quarter. US Bancorp DE now owns 18,593 shares of the company’s stock worth $392,000 after buying an additional 3,092 shares during the period. Cibc World Market Inc. grew its stake in NIO by 23.6% during the 1st quarter. Cibc World Market Inc. now owns 38,708 shares of the company’s stock valued at $815,000 after purchasing an additional 7,396 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of NIO by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,705,563 shares of the company’s stock worth $57,007,000 after purchasing an additional 48,720 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of NIO by 45.6% in the 1st quarter. Sei Investments Co. now owns 338,913 shares of the company’s stock valued at $7,134,000 after acquiring an additional 106,140 shares during the last quarter. 42.32% of the stock is owned by hedge funds and other institutional investors.

NIO Price Performance

NIO stock opened at $10.66 on Thursday. The firm has a market cap of $18.33 billion, a PE ratio of -6.93 and a beta of 2.03. The company’s 50 day moving average is $11.42 and its two-hundred day moving average is $9.70. Nio Inc – has a 52-week low of $7.00 and a 52-week high of $22.74. The company has a quick ratio of 1.12, a current ratio of 1.28 and a debt-to-equity ratio of 0.57.

NIO (NYSE:NIO) last issued its quarterly 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 analysts’ expectations of $9.16 billion. NIO had a negative return on equity of 66.25% and a negative net margin of 35.03%. The firm’s revenue was down 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.25) EPS. On average, research analysts expect that Nio Inc – will post -1.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NIO has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on NIO from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. JPMorgan Chase & Co. lifted their price objective on NIO from $9.00 to $10.50 in a report on Wednesday. Citigroup lifted their target price on shares of NIO from $13.90 to $19.20 in a research note on Friday, August 4th. Mizuho lowered their target price on NIO from $20.00 to $18.00 in a report on Wednesday. Finally, UBS Group upped their price objective on shares of NIO from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, July 31st. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.66.

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.