Los Angeles Capital Management LLC lessened its stake in Nio Inc – (NYSE:NIO – Free Report) by 86.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,266 shares of the company’s stock after selling 360,283 shares during the quarter. Los Angeles Capital Management LLC’s holdings in NIO were worth $602,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of NIO. Ameritas Advisory Services LLC acquired a new stake in NIO during the first quarter worth about $33,000. Point72 Asset Management L.P. acquired a new stake in NIO during the fourth quarter worth about $33,000. Spire Wealth Management increased its stake in shares of NIO by 165.7% in the fourth quarter. Spire Wealth Management now owns 4,810 shares of the company’s stock valued at $47,000 after purchasing an additional 3,000 shares during the period. Private Trust Co. NA increased its stake in shares of NIO by 512.5% in the first quarter. Private Trust Co. NA now owns 4,900 shares of the company’s stock valued at $51,000 after purchasing an additional 4,100 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in shares of NIO in the first quarter valued at approximately $64,000. Institutional investors and hedge funds own 28.36% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Bank of America dropped their price target on shares of NIO from $12.00 to $11.00 in a research note on Sunday, June 11th. Mizuho decreased their price objective on shares of NIO from $25.00 to $20.00 in a report on Monday, June 12th. Barclays decreased their price objective on shares of NIO from $10.00 to $8.00 in a report on Monday, June 12th. Citigroup increased their price objective on shares of NIO from $13.90 to $19.20 in a report on Friday. Finally, JPMorgan Chase & Co. increased their price objective on shares of NIO from $8.50 to $9.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.28.
NIO Price Performance
Shares of NIO stock opened at $14.81 on Tuesday. Nio Inc – has a twelve month low of $7.00 and a twelve month high of $22.74. The firm’s 50-day simple moving average is $10.33 and its 200-day simple moving average is $9.67. The company has a current ratio of 1.28, a quick ratio of 1.12 and a debt-to-equity ratio of 0.57.
NIO (NYSE:NIO – Get Free Report) last announced its quarterly earnings results on Friday, June 9th. The company reported ($2.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($2.29). NIO had a negative net margin of 35.03% and a negative return on equity of 66.25%. The firm had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $11.60 billion. During the same period in the prior year, the business earned ($0.18) earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts forecast that Nio Inc – will post -1.43 EPS for the current fiscal year.
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.