Myriad Asset Management Ltd. purchased a new stake in shares of Nio Inc – (NYSE:NIO) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,618,997 shares of the company’s stock, valued at approximately $13,356,000. NIO comprises approximately 1.2% of Myriad Asset Management Ltd.’s investment portfolio, making the stock its 27th largest holding.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sanders Morris Harris LLC raised its position in NIO by 11.1% during the 1st quarter. Sanders Morris Harris LLC now owns 24,000 shares of the company’s stock valued at $122,000 after purchasing an additional 2,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in NIO by 10.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,600 shares of the company’s stock valued at $182,000 after purchasing an additional 2,600 shares during the last quarter. Claraphi Advisory Network LLC raised its position in NIO by 30.0% during the 4th quarter. Claraphi Advisory Network LLC now owns 13,970 shares of the company’s stock valued at $89,000 after purchasing an additional 3,220 shares during the last quarter. Enlightenment Research LLC bought a new position in NIO during the 4th quarter valued at approximately $35,000. Finally, Barclays PLC bought a new position in NIO during the 4th quarter valued at approximately $36,000. 22.41% of the stock is owned by institutional investors and hedge funds.
Shares of NIO stock traded up $0.03 during midday trading on Wednesday, reaching $4.70. 6,134,833 shares of the stock were exchanged, compared to its average volume of 18,756,120. Nio Inc – has a 1 year low of $4.30 and a 1 year high of $13.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.25 and a current ratio of 1.42. The company has a market capitalization of $4.44 billion and a price-to-earnings ratio of -0.46.
NIO (NYSE:NIO) last posted its earnings results on Tuesday, March 5th. The company reported ($0.49) earnings per share for the quarter. The business had revenue of $499.69 million during the quarter. Sell-side analysts forecast that Nio Inc – will post -1.23 earnings per share for the current year.
NIO has been the subject of a number of recent analyst reports. Zacks Investment Research lowered NIO from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. Deutsche Bank set a $9.00 price target on NIO and gave the company a “buy” rating in a research report on Wednesday, January 23rd. 86 Research initiated coverage on NIO in a report on Tuesday, January 15th. They set a “sell” rating and a $4.70 target price on the stock. Citigroup upgraded NIO from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $7.20 to $6.80 in a report on Thursday, April 4th. Finally, Bank of America upgraded NIO from an “underperform” rating to a “neutral” rating and reduced their target price for the stock from $6.80 to $6.20 in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.56.
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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.
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