Parallel Advisors LLC lowered its holdings in Nio Inc – (NYSE:NIO) by 19.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,031 shares of the company’s stock after selling 506 shares during the period. Parallel Advisors LLC’s holdings in NIO were worth $108,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Gulf International Bank UK Ltd boosted its holdings in NIO by 9.2% in the first quarter. Gulf International Bank UK Ltd now owns 201,411 shares of the company’s stock valued at $7,851,000 after purchasing an additional 17,000 shares during the last quarter. CIBC World Markets Inc. lifted its holdings in NIO by 12.5% during the 1st quarter. CIBC World Markets Inc. now owns 39,946 shares of the company’s stock worth $1,557,000 after buying an additional 4,423 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in NIO during the 2nd quarter worth approximately $82,827,000. Vontobel Holding Ltd. lifted its holdings in NIO by 91.0% during the 1st quarter. Vontobel Holding Ltd. now owns 124,893 shares of the company’s stock worth $4,868,000 after buying an additional 59,511 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of NIO by 651.1% during the 1st quarter. Janus Henderson Group PLC now owns 549,630 shares of the company’s stock worth $21,425,000 after purchasing an additional 476,454 shares during the period. 28.21% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on NIO shares. BOCOM International started coverage on NIO in a research report on Tuesday, June 8th. They set a “buy” rating and a $57.00 price target on the stock. upgraded NIO from a “neutral” rating to a “buy” rating and raised their target price for the company from $57.60 to $58.30 in a research report on Tuesday, June 1st. HSBC upgraded NIO from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Friday, July 9th. Finally, Citigroup restated a “neutral” rating on shares of NIO in a research report on Thursday, August 12th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $65.49.
NIO (NYSE:NIO) last released its quarterly earnings data on Wednesday, August 11th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.12. NIO had a negative return on equity of 36.97% and a negative net margin of 29.68%. On average, equities research analysts anticipate that Nio Inc – will post -0.72 EPS 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.
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