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

Swedbank AB reduced its holdings in Nio Inc – (NYSE:NIO) by 10.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,059,110 shares of the company’s stock after selling 128,200 shares during the quarter. Swedbank AB owned about 0.06% of NIO worth $7,075,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its stake in NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after acquiring an additional 4,018,659 shares in the last quarter. Krane Funds Advisors LLC grew its stake in shares of NIO by 31.7% in the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after buying an additional 370,556 shares during the period. Bank of New York Mellon Corp raised its stake in NIO by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after buying an additional 343,910 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in NIO by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,303,549 shares of the company’s stock worth $5,742,000 after acquiring an additional 3,548 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in NIO by 2.5% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,089,571 shares of the company’s stock valued at $4,533,000 after acquiring an additional 26,253 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Bank of America increased their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Wolfe Research began coverage on shares of NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NIO currently has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Price Performance

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

NIO (NYSE:NIO) last issued its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $17.49 billion. During the same period 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 research analysts forecast that Nio Inc – will post -1.39 earnings per share for the current 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.