Intech Investment Management LLC Trims Holdings in Nio Inc – (NYSE:NIO)

Intech Investment Management LLC cut its stake in Nio Inc – (NYSE:NIO) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,572 shares of the company’s stock after selling 3,875 shares during the quarter. Intech Investment Management LLC’s holdings in NIO were worth $338,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Point72 Asset Management L.P. grew its position 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 worth $26,891,000 after buying an additional 4,018,659 shares in the last quarter. Krane Funds Advisors LLC grew its position in NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock worth $6,401,000 after buying an additional 370,556 shares in the last quarter. Bank of New York Mellon Corp grew its position in NIO by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after buying an additional 343,910 shares in the last quarter. SIH Partners LLLP grew its position in NIO by 104.0% during the second quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock worth $2,760,000 after buying an additional 338,320 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in NIO by 580.9% during the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after buying an additional 334,723 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NIO shares. Citigroup reduced their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Bank of America upped their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Finally, Wolfe Research began coverage on NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, NIO has a consensus rating of “Hold” and an average target price of $5.71.

NIO Trading Up 5.5 %

NYSE NIO opened at $4.64 on Wednesday. Nio Inc – has a 1-year low of $3.61 and a 1-year high of $9.57. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average of $5.36 and a 200-day moving average of $4.85. The firm has a market cap of $7.98 billion, a PE ratio of -3.07 and a beta of 1.77.

NIO (NYSE:NIO) last released its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($2.21). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same quarter in the previous year, the company posted ($0.51) EPS. NIO’s revenue for the quarter was up 98.9% on a year-over-year basis. As a group, sell-side analysts forecast that Nio Inc – will post -1.39 EPS for the current 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.