MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 37,100 Shares of Nio Inc – (NYSE:NIO)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its position in Nio Inc – (NYSE:NIO) by 28.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,400 shares of the company’s stock after selling 37,100 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in NIO were worth $420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of NIO. AMF Tjanstepension AB grew its holdings in shares of NIO by 132.4% in the first quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock valued at $7,030,000 after purchasing an additional 889,900 shares in the last quarter. 180 Wealth Advisors LLC grew its stake in shares of NIO by 41.6% in the 1st quarter. 180 Wealth Advisors LLC now owns 92,893 shares of the company’s stock worth $418,000 after buying an additional 27,289 shares in the last quarter. Edge Wealth Management LLC bought a new stake in shares of NIO in the 1st quarter worth about $54,000. Sound Income Strategies LLC raised its position in shares of NIO by 3,333.3% during the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after buying an additional 10,000 shares in the last quarter. Finally, Strategic Planning Group LLC lifted its holdings in shares of NIO by 23.8% in the 1st quarter. Strategic Planning Group LLC now owns 329,320 shares of the company’s stock valued at $1,482,000 after acquiring an additional 63,400 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NIO has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded NIO from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $4.80 to $5.40 in a research report on Wednesday, May 15th. UBS Group lowered their price target on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Citigroup reduced their target price on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Macquarie started coverage on shares of NIO in a report on Monday, April 15th. They set a “neutral” rating and a $5.00 price target on the stock. Finally, Barclays reissued an “underweight” rating and set a $4.00 price target (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.55.

NIO Price Performance

Shares of NIO stock opened at $4.53 on Wednesday. Nio Inc – has a 1 year low of $3.61 and a 1 year high of $16.18. The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. The firm’s 50-day moving average is $4.88 and its two-hundred day moving average is $5.62.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. As a group, sell-side analysts anticipate that Nio Inc – will post -1.41 EPS for the current fiscal 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.