Level Four Advisory Services LLC increased its stake in Nio Inc – (NYSE:NIO) by 10.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,300 shares of the company’s stock after purchasing an additional 1,450 shares during the period. Level Four Advisory Services LLC’s holdings in NIO were worth $119,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Electron Capital Partners LLC bought a new position in shares of NIO in the second quarter valued at about $69,808,000. WT Asset Management Ltd bought a new stake in shares of NIO in the second quarter worth $19,623,000. UBS Group AG lifted its position in shares of NIO by 5,315.6% in the first quarter. UBS Group AG now owns 2,008,631 shares of the company’s stock worth $5,584,000 after purchasing an additional 1,971,541 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of NIO by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 28,585,399 shares of the company’s stock valued at $220,680,000 after purchasing an additional 1,093,756 shares during the period. Finally, Voloridge Investment Management LLC acquired a new stake in shares of NIO in the first quarter valued at approximately $2,405,000. 39.43% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on the stock. Zacks Investment Research raised shares of NIO from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Tuesday, August 18th. Citigroup lifted their price target on NIO from $16.00 to $18.10 and gave the stock a “neutral” rating in a report on Wednesday, August 26th. Credit Suisse Group increased their price objective on NIO from $17.50 to $25.00 in a research report on Thursday, September 3rd. CICC Research raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $13.50 price target on the stock in a research report on Tuesday, July 21st. Finally, Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and set a $7.00 target price for the company. in a research report on Friday, July 17th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $12.46.
Shares of NYSE NIO opened at $19.28 on Wednesday. The stock has a 50 day simple moving average of $15.48 and a 200-day simple moving average of $7.91. The company has a market cap of $19.69 billion, a PE ratio of -16.83 and a beta of 2.86. Nio Inc – has a 12-month low of $1.19 and a 12-month high of $21.05.
NIO (NYSE:NIO) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.73). The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.51 billion. The company’s revenue for the quarter was up 146.5% on a year-over-year basis. During the same period in the previous year, the company posted ($3.11) EPS. As a group, equities research analysts forecast that Nio Inc – will post -0.73 earnings per share for the current year.
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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