Nio Inc – (NYSE:NIO) Shares Sold by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lowered its stake in Nio Inc – (NYSE:NIO) by 20.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,434 shares of the company’s stock after selling 7,490 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in NIO were worth $132,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. AMF Tjanstepension AB grew its stake in NIO by 132.4% during the 1st 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 NIO by 41.6% during the 1st quarter. 180 Wealth Advisors LLC now owns 92,893 shares of the company’s stock valued at $418,000 after purchasing an additional 27,289 shares in the last quarter. Edge Wealth Management LLC acquired a new stake in NIO during the 1st quarter valued at approximately $54,000. Sound Income Strategies LLC grew its stake in 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 purchasing an additional 10,000 shares in the last quarter. Finally, Strategic Planning Group LLC grew its stake in NIO by 23.8% during the 1st quarter. Strategic Planning Group LLC now owns 329,320 shares of the company’s stock valued at $1,482,000 after purchasing an additional 63,400 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NIO. Citigroup lowered their price objective on NIO from $10.40 to $8.50 and set a “buy” rating for the company in a research note on Thursday, June 6th. JPMorgan Chase & Co. upgraded NIO from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $4.80 to $5.40 in a research report on Wednesday, May 15th. Macquarie began coverage on NIO in a research report on Monday, April 15th. They issued a “neutral” rating and a $5.00 target price for the company. Mizuho reiterated a “neutral” rating and issued a $5.50 target price on shares of NIO in a research report on Monday, March 25th. Finally, UBS Group decreased their target price on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.55.

NIO Stock Performance

Shares of NYSE NIO opened at $4.88 on Thursday. Nio Inc – has a 12-month low of $3.61 and a 12-month high of $16.18. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $4.89 and its 200 day simple moving average is $5.62.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.48 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. Research analysts expect that Nio Inc – will post -1.41 earnings per share for the current year.

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.