Van ECK Associates Corp Boosts Stock Position in Nio Inc – (NYSE:NIO)

Van ECK Associates Corp grew its holdings in shares of Nio Inc – (NYSE:NIO) by 9.8% in the 4th quarter, HoldingsChannel reports. The firm owned 536,774 shares of the company’s stock after acquiring an additional 47,773 shares during the quarter. Van ECK Associates Corp’s holdings in NIO were worth $4,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Electron Capital Partners LLC purchased a new stake in NIO during the third quarter worth about $37,918,000. Royal London Asset Management Ltd. increased its stake in shares of NIO by 11.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 2,308,000 shares of the company’s stock worth $20,853,000 after purchasing an additional 245,800 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of NIO by 7.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,055,591 shares of the company’s stock worth $18,583,000 after purchasing an additional 134,234 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in NIO by 1.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,337,221 shares of the company’s stock valued at $12,608,000 after purchasing an additional 13,853 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its holdings in NIO by 4.5% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,279,198 shares of the company’s stock valued at $11,602,000 after purchasing an additional 54,682 shares during the period. 48.55% of the stock is currently owned by institutional investors.

NIO Stock Down 0.4 %

Shares of NYSE:NIO opened at $5.57 on Monday. The firm has a fifty day moving average price of $4.92 and a two-hundred day moving average price of $6.41. The company has a market cap of $9.58 billion, a price-to-earnings ratio of -3.18 and a beta of 1.92. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.22 and a quick ratio of 1.13. Nio Inc – has a one year low of $3.61 and a one year high of $16.18.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NIO shares. UBS Group lowered their target price on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. Mizuho reiterated a “neutral” rating and set a $5.50 target price on shares of NIO in a research report on Monday, March 25th. Macquarie started coverage on shares of NIO in a research note on Monday, April 15th. They issued a “neutral” rating and a $5.00 target price for the company. Sanford C. Bernstein dropped their price target on shares of NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research note on Thursday, March 7th. Finally, Barclays reiterated an “underweight” rating and issued a $4.00 price objective (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, NIO presently has a consensus rating of “Hold” and a consensus price target of $8.43.

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.