Krane Funds Advisors LLC Lowers Stake in Nio Inc – (NYSE:NIO)

Krane Funds Advisors LLC cut its holdings in Nio Inc – (NYSE:NIO) by 69.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 474,840 shares of the company’s stock after selling 1,063,941 shares during the quarter. NIO comprises approximately 0.1% of Krane Funds Advisors LLC’s portfolio, making the stock its 19th largest holding. Krane Funds Advisors LLC’s holdings in NIO were worth $3,172,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Oppenheimer & Co. Inc. lifted its position in NIO by 2.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock worth $371,000 after acquiring an additional 2,000 shares during the period. Westwood Holdings Group Inc. increased its stake in NIO by 13.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after buying an additional 2,038 shares during the period. Atomi Financial Group Inc. raised its position in NIO by 15.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after buying an additional 2,588 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of NIO by 22.0% in the 2nd 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, Fountainhead AM LLC boosted its holdings in shares of NIO by 24.1% in the first quarter. Fountainhead AM LLC now owns 14,954 shares of the company’s stock valued at $67,000 after acquiring an additional 2,907 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Daiwa America raised shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Wolfe Research assumed coverage on NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Bank of America increased their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Finally, Citigroup reduced their price objective 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.93.

NIO Stock Performance

Shares of NYSE NIO opened at $5.14 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. The company has a market cap of $8.84 billion, a PE ratio of -3.05 and a beta of 1.86. The company has a 50-day simple moving average of $5.19 and a 200-day simple moving average of $4.82. Nio Inc – has a 12 month low of $3.61 and a 12 month high of $9.57.

NIO (NYSE:NIO) last released its earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The firm had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same period in the previous year, the company earned ($0.51) EPS. NIO’s revenue for the quarter was up 98.9% on a year-over-year basis. On average, equities analysts anticipate that Nio Inc – will post -1.37 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.