Truist Financial Corp Sells 5,848 Shares of Nio Inc – (NYSE:NIO)

Truist Financial Corp lessened its holdings in Nio Inc – (NYSE:NIO) by 21.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 20,887 shares of the company’s stock after selling 5,848 shares during the period. Truist Financial Corp’s holdings in NIO were worth $189,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NIO. Principal Financial Group Inc. bought a new position in NIO in the 3rd quarter valued at $443,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of NIO by 15.4% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,712 shares of the company’s stock worth $133,000 after buying an additional 1,962 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of NIO during the 3rd quarter worth $1,231,000. Signaturefd LLC grew its position in shares of NIO by 18.0% during the 3rd quarter. Signaturefd LLC now owns 23,292 shares of the company’s stock worth $211,000 after buying an additional 3,559 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of NIO during the 3rd quarter worth $623,000. Institutional investors own 48.55% of the company’s stock.

NIO Stock Performance

NIO stock opened at $5.25 on Thursday. The stock has a 50-day moving average of $4.81 and a two-hundred day moving average of $6.21. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22. Nio Inc – has a one year low of $3.61 and a one year high of $16.18. The stock has a market cap of $9.02 billion, a PE ratio of -3.00 and a beta of 1.92.

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

Analyst Ratings Changes

NIO has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised NIO from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $4.80 to $5.40 in a research report on Wednesday, May 15th. Sanford C. Bernstein dropped their price target on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, March 7th. UBS Group dropped their price target on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Bank of America dropped their price target on NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Finally, Jefferies Financial Group decreased their price objective on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, NIO currently has a consensus rating of “Hold” and a consensus price target of $8.48.

About NIO

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.