Nio Inc – (NYSE:NIO) Position Reduced by Stablepoint Partners LLC

Stablepoint Partners LLC reduced its position in Nio Inc – (NYSE:NIO) by 39.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,977 shares of the company’s stock after selling 26,336 shares during the period. Stablepoint Partners LLC’s holdings in NIO were worth $175,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC raised its stake in NIO by 183.6% during the 4th quarter. Fisher Asset Management LLC now owns 244,402 shares of the company’s stock valued at $2,217,000 after purchasing an additional 158,231 shares during the period. Principal Securities Inc. acquired a new position in NIO during the fourth quarter valued at $42,000. Calton & Associates Inc. purchased a new stake in NIO in the 4th quarter worth about $92,000. AGF Management Ltd. purchased a new position in NIO during the 4th quarter valued at about $370,000. Finally, Jump Financial LLC grew its stake in NIO by 52.5% during the 4th quarter. Jump Financial LLC now owns 48,556 shares of the company’s stock valued at $440,000 after acquiring an additional 16,716 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on NIO shares. Citigroup decreased their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $4.80 to $5.40 in a report on Wednesday, May 15th. Wolfe Research assumed coverage on shares of NIO in a research note on Thursday. They issued a “peer perform” rating on the stock. Finally, Bank of America lifted their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.68.

NIO Price Performance

Shares of NYSE:NIO opened at $4.85 on Friday. The stock has a market capitalization of $8.34 billion, a P/E ratio of -2.87 and a beta of 1.82. The business has a 50-day moving average of $4.25 and a two-hundred day moving average of $4.72. Nio Inc – has a fifty-two week low of $3.61 and a fifty-two week high of $10.91. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03.

NIO (NYSE:NIO) last posted its earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. On average, equities research analysts predict that Nio Inc – will post -1.43 EPS for the current fiscal year.

NIO 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.