Nio Inc – (NYSE:NIO) Shares Sold by abrdn plc

abrdn plc reduced its holdings in shares of Nio Inc – (NYSE:NIO) by 77.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,242 shares of the company’s stock after selling 899,332 shares during the period. abrdn plc’s holdings in NIO were worth $1,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NIO. PFG Investments LLC increased its holdings in shares of NIO by 6.6% in the third quarter. PFG Investments LLC now owns 61,677 shares of the company’s stock valued at $412,000 after purchasing an additional 3,825 shares during the period. Ballentine Partners LLC increased its holdings in NIO by 11.5% in the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock worth $160,000 after buying an additional 2,482 shares during the period. Assenagon Asset Management S.A. increased its holdings in NIO by 8.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 68,187 shares of the company’s stock worth $455,000 after buying an additional 5,094 shares during the period. International Assets Investment Management LLC raised its position in NIO by 580.9% during the 3rd quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after buying an additional 334,723 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in NIO by 22.6% during the 3rd quarter. Private Advisor Group LLC now owns 84,032 shares of the company’s stock valued at $561,000 after acquiring an additional 15,509 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Trading Up 0.8 %

Shares of NIO stock opened at $5.14 on Tuesday. Nio Inc – has a fifty-two week low of $3.61 and a fifty-two week high of $9.57. The firm has a market capitalization of $8.84 billion, a P/E ratio of -3.44 and a beta of 1.91. The stock’s fifty day moving average is $5.43 and its two-hundred day moving average is $4.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting analysts’ consensus estimates of ($2.21). The company had revenue of $17.45 billion during 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 quarterly revenue was up 98.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.51) EPS. Research analysts expect that Nio Inc – will post -1.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Wolfe Research initiated coverage on NIO in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Citigroup lowered their target price on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Macquarie upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price target for the company in a research report on Monday, October 28th. Finally, Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.11.

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.