Handelsbanken Fonder AB Sells 173,205 Shares of Nio Inc – (NYSE:NIO)

Handelsbanken Fonder AB trimmed its stake in shares of Nio Inc – (NYSE:NIO) by 29.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 420,341 shares of the company’s stock after selling 173,205 shares during the quarter. Handelsbanken Fonder AB’s holdings in NIO were worth $3,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Electron Capital Partners LLC acquired a new stake in NIO during the third quarter worth approximately $37,918,000. Royal London Asset Management Ltd. grew its stake in NIO by 11.9% during the third quarter. Royal London Asset Management Ltd. now owns 2,308,000 shares of the company’s stock worth $20,853,000 after purchasing an additional 245,800 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in NIO by 7.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,055,591 shares of the company’s stock worth $18,583,000 after purchasing an additional 134,234 shares during the period. DekaBank Deutsche Girozentrale grew its stake in NIO by 1.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,337,221 shares of the company’s stock worth $12,608,000 after purchasing an additional 13,853 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in NIO by 4.5% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,279,198 shares of the company’s stock worth $11,602,000 after purchasing an additional 54,682 shares during the period. 48.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group decreased their target price on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Jefferies Financial Group reduced their price objective on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research note on Wednesday, March 6th. Bank of America reduced their price objective on NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Mizuho reissued a “neutral” rating and issued a $5.50 price objective on shares of NIO in a research note on Monday, March 25th. Finally, JPMorgan Chase & Co. reduced their price objective on NIO from $5.00 to $4.80 and set an “underweight” rating for the company in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, NIO presently has a consensus rating of “Hold” and an average target price of $8.43.

NIO Stock Performance

Shares of NYSE:NIO opened at $4.13 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. Nio Inc – has a 12-month low of $3.61 and a 12-month high of $16.18. The business’s 50 day moving average is $5.06 and its 200 day moving average is $6.60.

NIO (NYSE:NIO) last announced its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.39) by ($0.42). The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $18.16 billion. NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.51) EPS. As a group, equities analysts predict that Nio Inc – will post -1.26 EPS for the current fiscal year.

NIO Company 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.