Mirae Asset Global Investments Co. Ltd. Sells 674,132 Shares of Nio Inc – (NYSE:NIO)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Nio Inc – (NYSE:NIO) by 74.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 228,608 shares of the company’s stock after selling 674,132 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in NIO were worth $1,491,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. lifted its stake in NIO by 2.5% in the first quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock valued at $371,000 after acquiring an additional 2,000 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in NIO by 13.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after purchasing an additional 2,038 shares during the last quarter. Ballentine Partners LLC grew its holdings in NIO by 11.5% during the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock worth $160,000 after purchasing an additional 2,482 shares during the period. Atomi Financial Group Inc. increased its position in NIO by 15.5% during the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after buying an additional 2,588 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after buying an additional 2,651 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

Wall Street Analyst Weigh In

NIO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Macquarie raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.60 target price for the company in a report on Monday. Bank of America increased 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. Finally, Citigroup reduced their price objective on 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, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NIO currently has a consensus rating of “Hold” and an average price target of $6.11.

NIO Trading Down 4.7 %

Shares of NYSE:NIO opened at $5.10 on Friday. The business’s 50 day simple moving average is $5.39 and its 200 day simple moving average is $4.86. Nio Inc – has a 1 year low of $3.61 and a 1 year high of $9.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. The company has a market capitalization of $8.77 billion, a P/E ratio of -3.07 and a beta of 1.86.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $17.49 billion. During the same quarter last year, the business earned ($0.51) earnings per share. NIO’s revenue was up 98.9% on a year-over-year basis. On average, research analysts anticipate that Nio Inc – will post -1.37 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.