BlackRock Inc. cut its stake in shares of Nio Inc – (NYSE:NIO) by 3.6% during the first quarter, Holdings Channel reports. The firm owned 62,612,159 shares of the company’s stock after selling 2,326,383 shares during the quarter. BlackRock Inc.’s holdings in NIO were worth $2,440,622,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of NIO during the fourth quarter worth $666,462,000. Credit Suisse AG raised its position in NIO by 16.4% during the fourth quarter. Credit Suisse AG now owns 10,242,313 shares of the company’s stock valued at $499,210,000 after buying an additional 1,445,126 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in NIO by 407,573.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 8,500,000 shares of the company’s stock valued at $414,290,000 after buying an additional 8,497,915 shares during the period. Canada Pension Plan Investment Board raised its position in NIO by 213.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 6,448,810 shares of the company’s stock valued at $314,315,000 after buying an additional 4,392,059 shares during the period. Finally, Northern Trust Corp raised its position in NIO by 33.2% during the fourth quarter. Northern Trust Corp now owns 6,430,037 shares of the company’s stock valued at $313,401,000 after buying an additional 1,603,891 shares during the period. 28.63% of the stock is currently owned by institutional investors.
Shares of NYSE:NIO opened at $37.76 on Thursday. The business has a 50 day moving average price of $37.06 and a 200 day moving average price of $46.16. Nio Inc – has a twelve month low of $3.73 and a twelve month high of $66.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.96 and a current ratio of 3.06.
NIO (NYSE:NIO) last announced its earnings results on Monday, March 1st. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.89). The business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.71 billion. NIO had a negative net margin of 38.46% and a negative return on equity of 61.18%. NIO’s revenue for the quarter was up 133.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.73) EPS. Research analysts forecast that Nio Inc – will post -0.65 EPS for the current fiscal year.
Several research analysts recently weighed in on NIO shares. Mizuho upped their price target on NIO from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, May 3rd. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $60.00 price target on shares of NIO in a research report on Tuesday, April 27th. Jefferies Financial Group dropped their price target on NIO from $60.00 to $38.80 and set a “hold” rating on the stock in a research report on Monday, March 15th. HSBC boosted their target price on NIO from $44.70 to $54.00 and gave the company a “hold” rating in a research note on Friday, February 26th. Finally, CLSA assumed coverage on NIO in a research note on Thursday, April 29th. They issued a “buy” rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $48.89.
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.
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