Nio Inc – (NYSE:NIO) Shares Sold by Swiss National Bank

Swiss National Bank lessened its stake in Nio Inc – (NYSE:NIO) by 67.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,005,483 shares of the company’s stock after selling 2,075,048 shares during the period. Swiss National Bank owned about 0.06% of NIO worth $6,717,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NIO. Renaissance Technologies LLC acquired a new stake in shares of NIO in the second quarter valued at $1,076,000. International Assets Investment Management LLC grew its position in NIO by 580.9% in the 3rd quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock valued at $2,621,000 after acquiring an additional 334,723 shares in the last quarter. Signaturefd LLC grew its position in NIO by 16.9% in the 3rd quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock valued at $325,000 after acquiring an additional 7,014 shares in the last quarter. Bank of New York Mellon Corp increased its stake in NIO by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after purchasing an additional 343,910 shares during the period. Finally, SIH Partners LLLP lifted its position in shares of NIO by 104.0% during the second quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock worth $2,760,000 after purchasing an additional 338,320 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Analyst Ratings Changes

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

NIO Price Performance

Shares of NYSE NIO opened at $4.33 on Wednesday. The stock’s 50-day simple moving average is $5.48 and its 200-day simple 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 firm has a market capitalization of $7.44 billion, a PE ratio of -2.91 and a beta of 1.91. Nio Inc – has a fifty-two week low of $3.61 and a fifty-two week high of $9.57.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 33.41% and a negative return on equity of 113.83%. NIO’s revenue for the quarter was up 98.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. As a group, equities research analysts forecast that Nio Inc – will post -1.39 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.