First National Trust Co Sells 33,922 Shares of Nio Inc – (NYSE:NIO)

First National Trust Co lessened its position in Nio Inc – (NYSE:NIO) by 29.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,228 shares of the company’s stock after selling 33,922 shares during the period. First National Trust Co’s holdings in NIO were worth $755,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its holdings in NIO by 29.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 291,952 shares of the company’s stock valued at $2,639,000 after purchasing an additional 66,279 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in NIO by 21.5% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 18,259 shares of the company’s stock worth $165,000 after buying an additional 3,233 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in NIO by 1.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 404,041 shares of the company’s stock worth $3,653,000 after acquiring an additional 3,868 shares during the last quarter. AMF Tjanstepension AB increased its position in NIO by 95.4% in the 3rd quarter. AMF Tjanstepension AB now owns 672,300 shares of the company’s stock valued at $6,078,000 after acquiring an additional 328,200 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its stake in shares of NIO by 24.5% in the third quarter. IFM Investors Pty Ltd now owns 88,045 shares of the company’s stock worth $796,000 after acquiring an additional 17,334 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Macquarie began coverage on NIO in a research report on Monday, April 15th. They issued a “neutral” rating and a $5.00 price objective on the stock. Mizuho reiterated a “neutral” rating and issued a $5.50 price objective on shares of NIO in a research report on Monday, March 25th. UBS Group cut their target price on shares of NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Barclays reissued an “underweight” rating and set a $4.00 price target (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Finally, Bank of America reduced their price objective on shares of NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.43.

NIO Stock Performance

Shares of NYSE NIO traded down $0.02 during midday trading on Friday, reaching $5.57. 54,697,737 shares of the stock were exchanged, compared to its average volume of 55,921,856. Nio Inc – has a 12 month low of $3.61 and a 12 month high of $16.18. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $4.92 and a two-hundred day simple moving average of $6.42.

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