Swedbank AB Reduces Holdings in Nio Inc – (NYSE:NIO)

Swedbank AB lowered its stake in shares of Nio Inc – (NYSE:NIO) by 10.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,059,110 shares of the company’s stock after selling 128,200 shares during the quarter. Swedbank AB owned about 0.06% of NIO worth $7,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Creative Planning grew its holdings in shares of NIO by 8.3% during the 3rd quarter. Creative Planning now owns 290,558 shares of the company’s stock worth $1,941,000 after acquiring an additional 22,240 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of NIO during the third quarter valued at approximately $92,000. Atomi Financial Group Inc. grew its stake in NIO by 15.5% in the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after purchasing an additional 2,588 shares during the period. Green Alpha Advisors LLC raised its holdings in NIO by 23.1% in the third quarter. Green Alpha Advisors LLC now owns 73,413 shares of the company’s stock worth $490,000 after purchasing an additional 13,773 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV purchased a new position in NIO during the third quarter valued at $286,000. 48.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. 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 research note on Wednesday, September 4th. Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Daiwa America upgraded NIO to a “strong-buy” rating in a research note on Monday, September 30th. 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 note on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.93.

NIO Price Performance

NYSE NIO opened at $5.15 on Friday. Nio Inc – has a one year low of $3.61 and a one year high of $9.57. The stock has a 50-day moving average of $5.10 and a 200 day moving average of $4.80. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of -3.05 and a beta of 1.86.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting analysts’ consensus estimates 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%. The business’s revenue for the quarter was up 98.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.51) earnings per share. On average, sell-side analysts forecast that Nio Inc – will post -1.37 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.