Mcdonald Partners LLC acquired a new stake in Nio Inc – (NYSE:NIO) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 6,561 shares of the company’s stock, valued at approximately $256,000.
Several other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of NIO in the fourth quarter valued at about $666,462,000. Credit Suisse AG lifted 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 worth $499,210,000 after acquiring an additional 1,445,126 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in NIO by 407,573.9% in the 4th 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 purchasing an additional 8,497,915 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of NIO by 213.5% in 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 acquiring an additional 4,392,059 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of NIO by 33.2% during the fourth quarter. Northern Trust Corp now owns 6,430,037 shares of the company’s stock worth $313,401,000 after purchasing an additional 1,603,891 shares during the period.
Several equities analysts have recently issued reports on NIO shares. Nomura Instinet began coverage on NIO in a research note on Friday, January 22nd. They issued a “buy” rating and a $80.30 price target on the stock. Nomura initiated coverage on shares of NIO in a research note on Friday, January 22nd. They issued a “buy” rating and a $80.30 price objective on the stock. HSBC increased their price objective on shares of NIO from $44.70 to $54.00 and gave the stock a “hold” rating in a research report on Friday, February 26th. Morgan Stanley increased their price target on NIO from $33.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, January 28th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded NIO from a “buy” rating to a “neutral” rating and raised their target price for the company from $46.40 to $68.30 in a research note on Tuesday, January 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $48.00.
NIO (NYSE:NIO) last issued its earnings results on Monday, March 1st. The company reported ($1.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.89). The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period last year, the company posted ($2.73) EPS. The business’s revenue was up 133.2% compared to the same quarter last year. On average, equities research analysts expect that Nio Inc – will post -0.73 earnings per share for the current fiscal 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.
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