Greenwich Wealth Management LLC Boosts Position in Nio Inc – (NYSE:NIO)

Greenwich Wealth Management LLC increased its stake in Nio Inc – (NYSE:NIO) by 12.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,027 shares of the company’s stock after buying an additional 3,315 shares during the period. Greenwich Wealth Management LLC’s holdings in NIO were worth $121,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in NIO. Hsbc Holdings PLC increased its stake in NIO by 238.6% in the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after buying an additional 4,976,403 shares during the period. Quadrature Capital Ltd purchased a new position in NIO in the 4th quarter worth about $12,361,000. Swedbank AB purchased a new position in NIO during the 1st quarter valued at about $5,343,000. Norges Bank bought a new stake in shares of NIO in the 4th quarter valued at about $9,652,000. Finally, AMF Tjanstepension AB raised its holdings in shares of NIO by 132.4% in the 1st quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock valued at $7,030,000 after purchasing an additional 889,900 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NIO shares. Bank of America boosted their price target on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Citigroup reduced 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, September 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.93.

NIO Trading Down 2.6 %

NYSE NIO opened at $5.41 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The firm has a market cap of $9.29 billion, a PE ratio of -3.20 and a beta of 1.82. The company has a 50 day moving average price of $4.35 and a 200 day moving average price of $4.69. Nio Inc – has a 52 week low of $3.61 and a 52 week high of $10.47.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. NIO’s revenue was up 98.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.51) EPS. As a group, sell-side analysts forecast that Nio Inc – will post -1.41 EPS for the current fiscal year.

About NIO

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.