E Fund Management Co. Ltd. Buys 26,253 Shares of Nio Inc – (NYSE:NIO)

E Fund Management Co. Ltd. boosted its stake in shares of Nio Inc – (NYSE:NIO) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,089,571 shares of the company’s stock after purchasing an additional 26,253 shares during the quarter. E Fund Management Co. Ltd.’s holdings in NIO were worth $4,533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in shares of NIO in the fourth quarter valued at about $42,000. Jump Financial LLC boosted its position in shares of NIO by 52.5% in the fourth quarter. Jump Financial LLC now owns 48,556 shares of the company’s stock valued at $440,000 after acquiring an additional 16,716 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of NIO by 11.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company’s stock valued at $181,000 after acquiring an additional 2,092 shares during the period. Norges Bank bought a new stake in shares of NIO in the fourth quarter valued at about $9,652,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of NIO in the fourth quarter valued at about $715,000. 48.55% of the stock is owned by institutional investors.

NIO Stock Up 0.2 %

NIO stock opened at $5.41 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The company has a market cap of $9.30 billion, a PE ratio of -3.20 and a beta of 1.82. Nio Inc – has a 52 week low of $3.61 and a 52 week high of $10.47. The business has a 50-day simple moving average of $4.39 and a 200 day simple moving average of $4.69.

NIO (NYSE:NIO) last issued its earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The business’s quarterly revenue was up 98.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. Sell-side analysts anticipate that Nio Inc – will post -1.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Citigroup reduced their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Bank of America boosted their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $5.30 to $8.00 in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, NIO presently has an average rating of “Hold” and an average target price of $5.93.

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.