Nio Inc – (NYSE:NIO) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lessened its stake in Nio Inc – (NYSE:NIO) by 20.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,581 shares of the company’s stock after selling 3,170 shares during the quarter. Bank of Nova Scotia’s holdings in NIO were worth $55,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in shares of NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after acquiring an additional 3,607 shares during the period. Jones Financial Companies Lllp raised its stake in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after purchasing an additional 4,332 shares during the period. Sava Infond d.o.o. acquired a new position in NIO in the 4th quarter valued at about $44,000. Callan Family Office LLC purchased a new stake in shares of NIO in the 4th quarter valued at approximately $44,000. Finally, Trilogy Capital Inc. acquired a new stake in shares of NIO during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Wall Street Analyst Weigh In

NIO has been the topic of a number of recent analyst reports. Cfra Research upgraded NIO to a “hold” rating in a report on Friday, March 21st. Mizuho lowered their price target on NIO from $4.20 to $3.50 and set a “neutral” rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. 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 reduced their price target on shares of NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.05.

NIO Price Performance

Shares of NIO opened at $3.62 on Wednesday. The company has a market cap of $7.55 billion, a P/E ratio of -2.39 and a beta of 1.74. Nio Inc – has a fifty-two week low of $3.02 and a fifty-two week high of $7.71. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm’s 50 day moving average price is $4.21 and its 200 day moving average price is $4.64.

NIO (NYSE:NIO) last posted its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the prior year, the company posted ($2.81) EPS. The firm’s revenue was up 15.2% compared to the same quarter last year. On average, research analysts forecast that Nio Inc – will post -1.43 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.