Swedbank AB Sells 128,200 Shares of Nio Inc – (NYSE:NIO)

Swedbank AB lowered its stake in Nio Inc – (NYSE:NIO) by 10.8% in the 3rd quarter, Holdings Channel reports. The firm owned 1,059,110 shares of the company’s stock after selling 128,200 shares during the quarter. Swedbank AB’s holdings in NIO were worth $7,075,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in shares of NIO in the second quarter valued at approximately $1,076,000. International Assets Investment Management LLC boosted its holdings in NIO by 580.9% in the 3rd quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock valued at $2,621,000 after purchasing an additional 334,723 shares during the period. Signaturefd LLC grew its position in shares of NIO by 16.9% during the 3rd quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock valued at $325,000 after purchasing an additional 7,014 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of NIO by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after purchasing an additional 343,910 shares during the period. Finally, SIH Partners LLLP increased its holdings in shares of NIO by 104.0% in the second quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock worth $2,760,000 after purchasing an additional 338,320 shares during the period. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on NIO shares. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $4.80 to $3.90 in a research report on Monday. Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Citigroup cut their price target 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. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Bank of America lifted their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and a consensus target price of $5.71.

NIO Stock Down 7.4 %

Shares of NYSE:NIO opened at $4.33 on Wednesday. The stock has a market capitalization of $7.44 billion, a P/E ratio of -2.86 and a beta of 1.91. The stock’s 50-day moving average price is $5.48 and its 200-day moving average price is $4.89. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. Nio Inc – has a 12-month low of $3.61 and a 12-month high of $9.57.

NIO (NYSE:NIO) last announced 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). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter in the previous year, the company posted ($0.51) earnings per share. The business’s revenue was up 98.9% on a year-over-year basis. On average, equities analysts anticipate that Nio Inc – will post -1.39 earnings per share for the current 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.