Atomi Financial Group Inc. Increases Stock Position in Nio Inc – (NYSE:NIO)

Atomi Financial Group Inc. raised its position in Nio Inc – (NYSE:NIO) by 15.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,327 shares of the company’s stock after acquiring an additional 2,588 shares during the quarter. Atomi Financial Group Inc.’s holdings in NIO were worth $129,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NIO. Point72 Asset Management L.P. increased its holdings in NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after buying an additional 4,018,659 shares during the last quarter. Swedbank AB bought a new stake in shares of NIO during the 1st quarter valued at $5,343,000. AMF Tjanstepension AB increased its stake 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 worth $7,030,000 after purchasing an additional 889,900 shares in the last quarter. SG Americas Securities LLC raised its holdings in NIO by 64.6% in the 1st quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock worth $8,530,000 after purchasing an additional 744,067 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in NIO by 28.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after purchasing an additional 535,400 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

NIO Stock Down 7.1 %

Shares of NIO stock opened at $5.80 on Tuesday. The stock has a market cap of $9.97 billion, a P/E ratio of -3.43 and a beta of 1.86. The company’s fifty day simple moving average is $5.03 and its two-hundred day simple moving average is $4.79. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. Nio Inc – has a 52 week low of $3.61 and a 52 week high of $9.57.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting analysts’ consensus estimates of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The company had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same period in the prior year, the company earned ($0.51) earnings per share. The firm’s revenue was up 98.9% on a year-over-year basis. Analysts predict that Nio Inc – will post -1.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Daiwa America upgraded NIO to a “strong-buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Wolfe Research assumed coverage on shares of NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Citigroup decreased their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Finally, Bank of America upped their target price on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.93.

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.