US Bancorp DE Decreases Holdings in NIO Inc. (NYSE:NIO)

US Bancorp DE trimmed its position in shares of NIO Inc. (NYSE:NIO) by 59.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,686 shares of the company’s stock after selling 57,720 shares during the period. US Bancorp DE’s holdings in NIO were worth $151,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NIO. Xponance Inc. purchased a new position in NIO in the 1st quarter worth approximately $39,000. Annex Advisory Services LLC purchased a new position in NIO in the 1st quarter worth approximately $47,000. May Hill Capital LLC purchased a new position in NIO in the 1st quarter worth approximately $48,000. Concurrent Investment Advisors LLC purchased a new position in shares of NIO during the first quarter valued at approximately $50,000. Finally, IHT Wealth Management LLC purchased a new position in shares of NIO during the fourth quarter valued at approximately $57,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup reissued a “buy” rating on shares of NIO in a research note on Monday, April 28th. Morgan Stanley reissued a “buy” rating on shares of NIO in a research note on Monday, July 14th. Mizuho reduced their target price on NIO from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. boosted their target price on NIO from $4.10 to $4.80 and gave the company a “neutral” rating in a research note on Thursday. Finally, Barclays reduced their price target on NIO from $4.00 to $3.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $4.76.

NIO Trading Up 7.9%

NIO stock opened at $4.80 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 1.89. The business’s fifty day simple moving average is $4.08 and its two-hundred day simple moving average is $4.08. NIO Inc. has a 12 month low of $3.02 and a 12 month high of $7.71. The company has a market capitalization of $10.02 billion, a price-to-earnings ratio of -2.96 and a beta of 1.42.

NIO (NYSE:NIO) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.23). The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $12.46 billion. NIO had a negative net margin of 35.51% and a negative return on equity of 286.45%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.39) earnings per share. As a group, equities analysts predict that NIO Inc. will post -1.43 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.