Swiss National Bank Sells 135,900 Shares of Nio Inc – (NYSE:NIO)

Swiss National Bank lowered its stake in shares of Nio Inc – (NYSE:NIO) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,109,131 shares of the company’s stock after selling 135,900 shares during the quarter. Swiss National Bank owned about 0.18% of NIO worth $28,200,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Prudential PLC increased its holdings in shares of NIO by 0.9% during the 3rd quarter. Prudential PLC now owns 177,715 shares of the company’s stock worth $1,607,000 after purchasing an additional 1,641 shares during the period. Stratos Wealth Partners LTD. grew its position in NIO by 9.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 20,075 shares of the company’s stock worth $182,000 after buying an additional 1,816 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in NIO by 15.4% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,712 shares of the company’s stock valued at $133,000 after acquiring an additional 1,962 shares during the period. Fountainhead AM LLC raised its holdings in NIO by 20.0% in the 4th quarter. Fountainhead AM LLC now owns 12,047 shares of the company’s stock valued at $109,000 after acquiring an additional 2,012 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of NIO by 7.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 31,177 shares of the company’s stock worth $282,000 after acquiring an additional 2,248 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group cut 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. Mizuho reaffirmed a “neutral” rating and set a $5.50 price objective on shares of NIO in a report on Monday, March 25th. Macquarie initiated coverage on shares of NIO in a research report on Monday, April 15th. They set a “neutral” rating and a $5.00 target price on the stock. Barclays restated an “underweight” rating and set a $4.00 price target (down previously from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Finally, Sanford C. Bernstein lowered their price objective on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.43.

NIO Stock Performance

NYSE NIO opened at $5.21 on Thursday. The firm’s fifty day moving average price is $4.91 and its two-hundred day moving average price is $6.37. The firm has a market capitalization of $8.96 billion, a P/E ratio of -2.98 and a beta of 1.92. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. Nio Inc – has a 1 year low of $3.61 and a 1 year high of $16.18.

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