Sicart Associates LLC purchased a new position in Nio Inc – (NYSE:NIO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 24,651 shares of the company’s stock, valued at approximately $63,000.
Several other institutional investors have also modified their holdings of NIO. LPL Financial LLC bought a new position in shares of NIO in the 4th quarter worth about $68,000. Bank of New York Mellon Corp increased its stake in NIO by 65.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,072,943 shares of the company’s stock valued at $13,205,000 after purchasing an additional 820,466 shares in the last quarter. Raymond James & Associates bought a new stake in NIO during the 4th quarter valued at about $83,000. Advisor Group Inc. increased its stake in NIO by 510.3% during the 4th quarter. Advisor Group Inc. now owns 22,275 shares of the company’s stock valued at $141,000 after purchasing an additional 18,625 shares in the last quarter. Finally, Barclays PLC bought a new stake in NIO during the 4th quarter valued at about $36,000. Institutional investors own 27.13% of the company’s stock.
A number of research firms have weighed in on NIO. Bank of America lowered shares of NIO from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $6.20 to $3.00 in a research note on Tuesday, May 28th. UBS Group reduced their price objective on shares of NIO from $7.00 to $5.50 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Citigroup upgraded shares of NIO from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $7.20 to $6.80 in a research note on Thursday, April 4th. Finally, Zacks Investment Research lowered shares of NIO from a “hold” rating to a “sell” rating in a research note on Tuesday. Four analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $7.27.
NIO (NYSE:NIO) last announced its quarterly earnings results on Tuesday, May 28th. The company reported ($2.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($1.92). The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.41 billion. NIO’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts anticipate that Nio Inc – will post -1.36 earnings per share 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.
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