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Manufacturers’ Life Insurance Company reduced its holding of Nio Inc – (NYSE: NIO – Get Rating) by 8.1% in the third quarter, according to the latest filings with the Securities and Exchange Commission (SEC). The institutional investor owned 251,100 shares of the company after selling 22,000 of his shares during the quarter. His NIO assets held by Manufacturers’ Life Insurance Company were worth $3,960,000 as of the most recent SEC filing.
A number of other institutional investors have also recently changed positions at NIO. E Fund Management Hong Kong Co. Ltd. increased his NIO stock position by 127.6% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 770,160 shares in the company worth $15,172,000 after he purchased an additional 431,851 shares last quarter. US Bancorp DE increased his position in NIO by 19.9% in the first quarter. US Bancorp DE now owns 18,593 shares of the company worth $392,000 after acquiring an additional 3,092 shares during this period. Cibc World Market Inc. increased his position in NIO by 23.6% in the first quarter. Cibc World Market Inc. now owns 38,708 shares worth $815,000 after acquiring an additional 7,396 shares during this period. Dimensional Fund Advisors LP increased his position in NIO by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,705,563 shares worth $57,007,000 after acquiring an additional 48,720 shares during this period. Finally, Sei Investments Co. increased his position in NIO by 45.6% in the first quarter. Sei Investments Co. now owns 338,913 shares of the company worth $7,134,000 after acquiring an additional 106,140 shares during this period. Institutional investors and hedge funds own 30.06% of the company’s shares.
NIO Price Performance
NIO shares Wednesday opened at $12.07. The company has a quick ratio of 1.42, a current ratio of 1.59 and a debt to equity ratio of 0.43. Nio Inc – 12 month low $8.38, 12 month high $26.41. The 50-day moving average price for this business is $11.41 and the 200-day moving average price is $14.55. The company has a market capitalization of $20.14 billion, a PE ratio of -12.07 and a beta of 1.86.
NIO (NYSE:NIO – Get Rating) last reported quarterly results on Thursday, November 10. The company reported earnings per share ($0.36) for his quarter. NIO’s net profit margin was 24.94% and return on equity was 32.66%. Revenue for the business in the quarter was $1.83 billion. Sell-side analysts expect Nio Inc- to post earnings of -0.9 per share for the current financial year.
Wall Street analyst opinion
Many analysts have commented on the company. Jefferies Financial Group reaffirmed its ‘hold’ rating and set its price target on NIO stock at $11.27, down from $42.30 he previously lowered, in a research report on Monday, Nov. 28. bottom. UBS Group cut NIO’s rating from ‘buy’ to ‘neutral’ and its price target to $13.00 from $32.00 in a research report on Thursday, November 17. Bank of America lowered its price target on NIO from $16.00 to $15.00, setting a ‘Buy’ rating for the company in a research report on Friday, November 11th. China Renaissance has lowered its price target for NIO from $12.30 to $10.40 and put the company’s rating on hold in its research notes on Thursday, December 29. Finally, Deutsche Bank Aktiengesellschaft raised NIO’s price target from $20.00 to $21.00, giving the company a ‘buy’ rating in its research notes on Monday, November 21st. Three equity research analysts rated the stock with a hold rating and ten issued a buy rating to the company. According to MarketBeat.com, the current consensus rating for the stock is “moderate buy” with an average price target of $22.51.
About NIO
(get rating)
NIO Inc designs, manufactures and sells electric vehicles in the People’s Republic of China. The company also manufactures e-powertrains, battery packs and components. Race management, technical development, sales and after-sales management activities. In addition, we provide power solutions for your battery charging needs. and other value-added services.
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