abrdn plc Acquires 61,881 Shares of Nio Inc – (NYSE:NIO)

abrdn plc boosted its holdings in shares of Nio Inc – (NYSE:NIO) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 956,677 shares of the company’s stock after purchasing an additional 61,881 shares during the quarter. abrdn plc owned about 0.06% of NIO worth $8,677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new position in shares of NIO during the fourth quarter valued at about $38,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in NIO by 57.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 634,848 shares of the company’s stock valued at $5,758,000 after acquiring an additional 230,807 shares in the last quarter. Desjardins Global Asset Management Inc. lifted its position in shares of NIO by 29.6% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 57,903 shares of the company’s stock worth $525,000 after acquiring an additional 13,239 shares during the period. Vontobel Holding Ltd. grew its holdings in shares of NIO by 5.0% during the 4th quarter. Vontobel Holding Ltd. now owns 1,059,598 shares of the company’s stock worth $9,611,000 after purchasing an additional 50,891 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its stake in shares of NIO by 13.9% in the fourth quarter. Valeo Financial Advisors LLC now owns 20,383 shares of the company’s stock valued at $185,000 after purchasing an additional 2,490 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

Analyst Upgrades and Downgrades

NIO has been the topic of a number of recent research reports. Barclays reiterated an “underweight” rating and set a $4.00 price target (down previously from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Bank of America lowered their target price on shares of NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Mizuho restated a “neutral” rating and set a $5.50 price target on shares of NIO in a research note on Monday, March 25th. Jefferies Financial Group lowered their price objective on NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a research note on Wednesday, March 6th. Finally, UBS Group decreased their price target on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.43.

NIO Stock Performance

NIO stock opened at $4.49 on Friday. The stock has a 50-day simple moving average of $5.02 and a 200 day simple moving average of $6.58. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of -2.57 and a beta of 1.93. 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 12-month low of $3.61 and a 12-month high of $16.18.

NIO (NYSE:NIO) last announced its earnings results 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 company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $18.16 billion. During the same period in the prior year, the firm posted ($0.51) earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. On average, research 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.