Sanctuary Advisors LLC Purchases New Shares in Nio Inc – (NYSE:NIO)

Sanctuary Advisors LLC purchased a new stake in Nio Inc – (NYSE:NIO) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 50,790 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NIO. Point72 Asset Management L.P. boosted its position in shares of NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after purchasing an additional 4,018,659 shares during the period. Swedbank AB purchased a new stake in NIO in the 1st quarter worth about $5,343,000. AMF Tjanstepension AB lifted its stake in 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 acquiring an additional 889,900 shares in the last quarter. SG Americas Securities LLC lifted its stake 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 acquiring an additional 744,067 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in NIO by 28.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after acquiring an additional 535,400 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Stock Performance

Shares of NYSE NIO opened at $5.22 on Friday. 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 firm has a market cap of $8.97 billion, a price-to-earnings ratio of -3.09 and a beta of 1.86. The business’s 50-day simple moving average is $5.16 and its 200-day simple moving average is $4.81. Nio Inc – has a 52 week low of $3.61 and a 52 week high of $9.57.

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

Wall Street Analyst Weigh In

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