Nio Inc – (NYSE:NIO) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in Nio Inc – (NYSE:NIO) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 68,187 shares of the company’s stock after acquiring an additional 5,094 shares during the period. Assenagon Asset Management S.A.’s holdings in NIO were worth $455,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Point72 Asset Management L.P. grew its holdings in 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 purchasing an additional 4,018,659 shares during the period. Swedbank AB acquired a new stake in shares of NIO during the 1st quarter worth $5,343,000. SG Americas Securities LLC raised its position in shares of NIO by 64.6% in the 1st quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock worth $8,530,000 after buying an additional 744,067 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in NIO by 28.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after acquiring an additional 535,400 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in NIO by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after acquiring an additional 439,474 shares during the period. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Price Performance

NIO stock opened at $5.10 on Monday. The stock’s 50 day moving average is $5.43 and its two-hundred day moving average is $4.88. Nio Inc – has a 52-week low of $3.61 and a 52-week high of $9.57. The company has a market capitalization of $8.77 billion, a PE ratio of -3.36 and a beta of 1.91. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

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

Analyst Ratings Changes

Several research firms have recently weighed in on NIO. Wolfe Research assumed coverage on NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Macquarie upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price objective for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and raised their target price for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Bank of America raised their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, NIO presently has a consensus rating of “Hold” and an average price target of $6.11.

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.