Nio Inc – (NYSE:NIO) Shares Sold by Connectus Wealth LLC

Connectus Wealth LLC lowered its position in shares of Nio Inc – (NYSE:NIOGet Rating) by 8.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,200 shares of the company’s stock after selling 1,000 shares during the period. Connectus Wealth LLC’s holdings in NIO were worth $323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NIO. Norges Bank acquired a new position in shares of NIO during the fourth quarter worth $435,592,000. Schroder Investment Management Group grew its stake in shares of NIO by 6,141.7% during the fourth quarter. Schroder Investment Management Group now owns 12,979,146 shares of the company’s stock worth $411,180,000 after purchasing an additional 12,771,205 shares in the last quarter. BlackRock Inc. boosted its stake in NIO by 3.9% in the fourth quarter. BlackRock Inc. now owns 64,036,975 shares of the company’s stock valued at $2,028,693,000 after acquiring an additional 2,412,164 shares in the last quarter. Legal & General Group Plc boosted its stake in NIO by 24.6% in the fourth quarter. Legal & General Group Plc now owns 10,543,630 shares of the company’s stock valued at $334,022,000 after acquiring an additional 2,083,903 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in NIO by 498.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,615,660 shares of the company’s stock valued at $51,184,000 after acquiring an additional 1,345,561 shares in the last quarter. Institutional investors and hedge funds own 42.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NIO shares. Morgan Stanley decreased their price objective on shares of NIO from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Friday, June 10th. Mizuho decreased their price objective on shares of NIO from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, June 27th. HSBC upped their price objective on shares of NIO from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, June 30th. Bank of America upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Monday, May 16th. Finally, Citigroup decreased their price objective on shares of NIO from $87.00 to $41.10 and set a “buy” rating for the company in a research note on Tuesday, June 21st. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NIO currently has an average rating of “Moderate Buy” and an average price target of $38.71.

NIO Stock Down 3.3 %

NYSE NIO opened at $20.22 on Friday. Nio Inc – has a 52-week low of $11.67 and a 52-week high of $46.38. The firm has a 50-day moving average price of $20.33 and a 200 day moving average price of $20.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.02 and a quick ratio of 1.93.

NIO (NYSE:NIOGet Rating) last posted its quarterly earnings results on Thursday, June 9th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.24. The firm had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.86 billion. NIO had a negative net margin of 19.67% and a negative return on equity of 24.99%. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.48) earnings per share. On average, equities research analysts predict that Nio Inc – will post -0.64 earnings per share for the current fiscal year.

NIO Company Profile

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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.

See Also

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Institutional Ownership by Quarter for NIO (NYSE:NIO)

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