ABC Arbitrage SA Buys Shares of 670,417 NIO Inc. $NIO

ABC Arbitrage SA purchased a new position in shares of NIO Inc. (NYSE:NIO) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 670,417 shares of the company’s stock, valued at approximately $4,043,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Atlantic Union Bankshares Corp raised its holdings in shares of NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after buying an additional 2,950 shares during the period. Arax Advisory Partners boosted its holdings in NIO by 81.6% during the 4th quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after acquiring an additional 3,487 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in NIO during the 4th quarter valued at about $41,000. Merkkuri Wealth Advisors LLC acquired a new position in NIO in the 1st quarter valued at about $41,000. Finally, MV Capital Management Inc. purchased a new stake in NIO during the fourth quarter worth about $42,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NIO. Sanford C. Bernstein restated a “market perform” rating and issued a $6.00 price objective on shares of NIO in a report on Friday, May 22nd. Dbs Bank upgraded shares of NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. Bank of America reissued a “neutral” rating and issued a $6.80 price target on shares of NIO in a research report on Thursday, May 21st. The Goldman Sachs Group upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Monday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, NIO presently has an average rating of “Hold” and a consensus price target of $6.70.

NIO Stock Up 3.2%

NIO stock opened at $4.93 on Tuesday. The stock has a market cap of $12.25 billion, a P/E ratio of -8.97 and a beta of 0.90. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. NIO Inc. has a twelve month low of $3.96 and a twelve month high of $8.02. The company’s 50 day moving average is $5.38 and its two-hundred day moving average is $5.38.

NIO (NYSE:NIO) last posted its earnings results on Saturday, February 14th. The company reported $0.04 earnings per share for the quarter. The business had revenue of $4.95 billion during the quarter. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%. Research analysts expect that NIO Inc. will post -0.13 earnings per share for the current fiscal year.

NIO Profile

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.