Van ECK Associates Corp Buys 37,160 Shares of Nio Inc – (NYSE:NIO)

Van ECK Associates Corp grew its stake in Nio Inc – (NYSE:NIO) by 8.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 463,144 shares of the company’s stock after acquiring an additional 37,160 shares during the period. Van ECK Associates Corp’s holdings in NIO were worth $1,927,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Hsbc Holdings PLC grew its stake in NIO by 238.6% in the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after purchasing an additional 4,976,403 shares in the last quarter. Electron Capital Partners LLC lifted its holdings in shares of NIO by 5.6% in the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock worth $40,180,000 after buying an additional 235,521 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of NIO by 28.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after buying an additional 535,400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of NIO by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after buying an additional 439,474 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of NIO by 64.6% in the first quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock valued at $8,530,000 after acquiring an additional 744,067 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Bank of America increased their target price on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday. Wolfe Research assumed coverage on shares of NIO in a research note on Thursday. They set a “peer perform” rating on the stock. Citigroup reduced their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and increased their target price for the company from $5.30 to $8.00 in a research report on Friday. 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 company currently has an average rating of “Hold” and an average target price of $5.93.

NIO Stock Performance

Shares of NIO opened at $5.03 on Friday. Nio Inc – has a 12 month low of $3.61 and a 12 month high of $10.88. The stock has a fifty day moving average price of $4.27 and a 200-day moving average price of $4.71. 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 has a market cap of $8.65 billion, a PE ratio of -2.98 and a beta of 1.82.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. The business had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter last year, the company earned ($0.51) earnings per share. The company’s quarterly revenue was up 98.9% on a year-over-year basis. Equities research analysts predict that Nio Inc – will post -1.43 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.