Nio Inc – (NYSE:NIO) Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. cut its holdings in shares of Nio Inc – (NYSE:NIO) by 34.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 286,390 shares of the company’s stock after selling 149,251 shares during the quarter. APG Asset Management N.V.’s holdings in NIO were worth $1,112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NIO. Ridgewood Investments LLC acquired a new stake in shares of NIO in the second quarter valued at $25,000. Sound Income Strategies LLC boosted its stake in shares of NIO by 3,333.3% in the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after buying an additional 10,000 shares during the period. Perigon Wealth Management LLC acquired a new position in shares of NIO during the first quarter worth about $51,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of NIO during the second quarter worth approximately $53,000. Finally, Edge Wealth Management LLC acquired a new stake in NIO in the first quarter valued at approximately $54,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Trading Up 2.5 %

Shares of NIO opened at $6.68 on Tuesday. The firm’s 50-day moving average is $4.58 and its two-hundred day moving average is $4.68. Nio Inc – has a twelve month low of $3.61 and a twelve month high of $9.57. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $11.48 billion, a P/E ratio of -3.95 and a beta of 1.82.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. NIO’s quarterly revenue was up 98.9% on a year-over-year basis. During the same period last year, the business posted ($0.51) EPS. On average, research analysts predict that Nio Inc – will post -1.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NIO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Wolfe Research began coverage on NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Bank of America boosted their price objective on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Finally, Citigroup reduced their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.93.

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.