Nio Inc – (NYSE:NIO) Stake Increased by Axim Planning & Wealth

Axim Planning & Wealth lifted its stake in shares of Nio Inc – (NYSE:NIO) by 471.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 80,383 shares of the company’s stock after acquiring an additional 66,328 shares during the period. NIO makes up 0.6% of Axim Planning & Wealth’s investment portfolio, making the stock its 7th biggest position. Axim Planning & Wealth’s holdings in NIO were worth $537,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new position in shares of NIO during the second quarter worth approximately $25,000. Allspring Global Investments Holdings LLC purchased a new position in NIO in the 3rd quarter worth $32,000. Baader Bank Aktiengesellschaft purchased a new position in NIO in the 2nd quarter worth $53,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after purchasing an additional 2,651 shares during the last quarter. Finally, Caprock Group LLC purchased a new stake in NIO during the second quarter valued at about $63,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NIO shares. Bank of America boosted their target price on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Macquarie raised NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price objective for the company in a research note on Monday, October 28th. Wolfe Research began coverage on shares of NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and increased their price target for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Citigroup decreased their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.11.

NIO Stock Performance

NIO stock opened at $4.62 on Thursday. The stock’s 50 day moving average is $5.59 and its 200 day moving average is $4.93. The company has a market capitalization of $7.94 billion, a P/E ratio of -3.04 and a beta of 1.91. Nio Inc – has a twelve month low of $3.61 and a twelve month high of $9.57. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting the consensus estimate of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. NIO’s revenue for the quarter was up 98.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.51) EPS. On average, equities research analysts predict that Nio Inc – will post -1.37 earnings per share for the current fiscal year.

NIO 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.