Van ECK Associates Corp Increases Holdings in Nio Inc – (NYSE:NIO)

Van ECK Associates Corp grew its stake in shares of Nio Inc – (NYSE:NIO) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 536,774 shares of the company’s stock after purchasing an additional 47,773 shares during the quarter. Van ECK Associates Corp’s holdings in NIO were worth $4,869,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Electron Capital Partners LLC purchased a new stake in shares of NIO during the third quarter worth about $37,918,000. Royal London Asset Management Ltd. boosted its stake in shares of NIO by 11.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 2,308,000 shares of the company’s stock valued at $20,853,000 after buying an additional 245,800 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of NIO by 7.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,055,591 shares of the company’s stock worth $18,583,000 after buying an additional 134,234 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of NIO by 1.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,337,221 shares of the company’s stock worth $12,608,000 after buying an additional 13,853 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in NIO by 4.5% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,279,198 shares of the company’s stock valued at $11,602,000 after buying an additional 54,682 shares during the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NIO has been the topic of a number of research reports. Macquarie assumed coverage on shares of NIO in a report on Monday, April 15th. They set a “neutral” rating and a $5.00 target price on the stock. Sanford C. Bernstein cut their price objective on shares of NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, March 7th. Bank of America decreased their target price on shares of NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. JPMorgan Chase & Co. reduced their price objective on NIO from $5.00 to $4.80 and set an “underweight” rating for the company in a research report on Wednesday, March 6th. Finally, Mizuho restated a “neutral” rating and issued a $5.50 target price on shares of NIO in a research report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, NIO has a consensus rating of “Hold” and an average target price of $8.43.

NIO Price Performance

Shares of NYSE NIO opened at $5.57 on Monday. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of -3.18 and a beta of 1.92. Nio Inc – has a twelve month low of $3.61 and a twelve month high of $16.18. The firm has a 50-day moving average of $4.92 and a two-hundred day moving average of $6.41.

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