Royal London Asset Management Ltd. Purchases 245,800 Shares of Nio Inc – (NYSE:NIO)

Royal London Asset Management Ltd. grew its position in Nio Inc – (NYSE:NIOFree Report) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,308,000 shares of the company’s stock after purchasing an additional 245,800 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.13% of NIO worth $20,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of NIO by 7.8% during the second quarter. BlackRock Inc. now owns 66,794,714 shares of the company’s stock worth $647,241,000 after acquiring an additional 4,835,232 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of NIO by 2.2% during the third quarter. Vanguard Group Inc. now owns 51,370,117 shares of the company’s stock worth $810,108,000 after acquiring an additional 1,113,194 shares during the last quarter. Norges Bank bought a new position in shares of NIO during the fourth quarter worth $155,344,000. Legal & General Group Plc boosted its position in shares of NIO by 0.8% during the fourth quarter. Legal & General Group Plc now owns 11,086,052 shares of the company’s stock worth $108,089,000 after acquiring an additional 92,662 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of NIO by 20.8% during the first quarter. First Trust Advisors LP now owns 8,128,289 shares of the company’s stock worth $171,100,000 after acquiring an additional 1,399,601 shares during the last quarter. 42.32% of the stock is currently owned by institutional investors.

NIO Price Performance

NIO opened at $5.77 on Friday. Nio Inc – has a 12-month low of $4.78 and a 12-month high of $16.18. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.22 and a quick ratio of 0.97. The firm has a 50 day moving average of $6.39 and a two-hundred day moving average of $7.82.

NIO (NYSE:NIOGet Free Report) last issued its quarterly earnings data 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 firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $18.16 billion. During the same quarter last year, the company posted ($0.51) EPS. The company’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts expect that Nio Inc – will post -1.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NIO. Mizuho decreased their price target on shares of NIO from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, December 6th. Bank of America reduced their target price on shares of NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday. Jefferies Financial Group reduced their target price on shares of NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a research note on Wednesday. Barclays dropped their target price on shares of NIO from $8.00 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, The Goldman Sachs Group began coverage on shares of NIO in a report on Wednesday, January 3rd. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.53.

Check Out Our Latest Stock Report on NIO

NIO Profile

(Free Report)

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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Institutional Ownership by Quarter for NIO (NYSE:NIO)

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