Nio Inc – (NYSE:NIO) Shares Bought by US Bancorp DE

US Bancorp DE increased its holdings in shares of Nio Inc – (NYSE:NIO) by 51.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,108 shares of the company’s stock after purchasing an additional 29,936 shares during the quarter. US Bancorp DE’s holdings in NIO were worth $589,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC acquired a new stake in shares of NIO during the second quarter worth about $25,000. Allspring Global Investments Holdings LLC acquired a new stake in NIO during the 3rd quarter worth approximately $32,000. Baader Bank Aktiengesellschaft purchased a new position in NIO in the 2nd quarter valued at approximately $53,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of NIO by 22.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after acquiring an additional 2,651 shares during the period. Finally, Caprock Group LLC purchased a new stake in NIO during the 2nd quarter worth about $63,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on NIO. Bank of America lifted their price target on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Citigroup cut their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. Wolfe Research began coverage on shares of NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Macquarie raised NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price objective for the company in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NIO has an average rating of “Hold” and a consensus price target of $6.11.

NIO Stock Down 4.1 %

Shares of NIO stock opened at $5.09 on Monday. The business’s fifty day moving average price is $5.55 and its two-hundred day moving average price is $4.93. The company has a market capitalization of $8.75 billion, a P/E ratio of -3.35 and a beta of 1.91. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. Nio Inc – has a 1-year low of $3.61 and a 1-year high of $9.57.

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

About NIO

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.