AI Squared Management Ltd Acquires Shares of 342,000 Nio Inc – (NYSE:NIO)

AI Squared Management Ltd bought a new position in Nio Inc – (NYSE:NIO) in the 4th quarter, HoldingsChannel reports. The fund bought 342,000 shares of the company’s stock, valued at approximately $1,491,000. NIO comprises approximately 1.5% of AI Squared Management Ltd’s portfolio, making the stock its 20th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Toronto Dominion Bank increased its holdings in shares of NIO by 1,652,962.5% in the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after acquiring an additional 132,237 shares during the period. SBI Securities Co. Ltd. bought a new position in NIO in the 4th quarter worth about $1,360,000. AlphaStar Capital Management LLC acquired a new stake in shares of NIO in the fourth quarter valued at approximately $537,000. FMR LLC raised its holdings in shares of NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after buying an additional 5,296,601 shares during the last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in NIO in the 3rd quarter valued at approximately $1,327,000. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Price Performance

NYSE NIO opened at $4.39 on Tuesday. Nio Inc – has a twelve month low of $3.61 and a twelve month high of $7.71. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The stock has a market capitalization of $9.15 billion, a PE ratio of -2.90 and a beta of 1.81. The stock has a 50-day simple moving average of $4.43 and a 200 day simple moving average of $4.87.

NIO (NYSE:NIO) last issued its earnings results on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.81) earnings per share. Research analysts anticipate that Nio Inc – will post -1.43 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NIO shares. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Citigroup lowered their price objective on shares of NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a research report on Monday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.00.

NIO 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.