Ovata Capital Management Ltd Acquires New Stake in Nio Inc – (NYSE:NIO)

Ovata Capital Management Ltd bought a new stake in Nio Inc – (NYSE:NIO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 51,104 shares of the company’s stock, valued at approximately $213,000.

Several other hedge funds have also bought and sold shares of NIO. Oppenheimer & Co. Inc. lifted its holdings in shares of NIO by 2.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock worth $371,000 after acquiring an additional 2,000 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of NIO by 13.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after purchasing an additional 2,038 shares in the last quarter. Avantax Advisory Services Inc. increased its position in shares of NIO by 11.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company’s stock valued at $181,000 after purchasing an additional 2,092 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of NIO by 22.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after buying an additional 2,651 shares in the last quarter. Finally, Cantor Fitzgerald L. P. lifted its position in NIO by 23.0% in the 4th quarter. Cantor Fitzgerald L. P. now owns 14,548 shares of the company’s stock worth $132,000 after buying an additional 2,719 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors.

NIO Stock Performance

NIO stock opened at $4.85 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. The firm has a market cap of $8.34 billion, a P/E ratio of -2.87 and a beta of 1.82. Nio Inc – has a 1-year low of $3.61 and a 1-year high of $10.91. The firm has a 50-day moving average of $4.25 and a 200-day moving average of $4.72.

NIO (NYSE:NIO) last released its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting analysts’ consensus estimates of ($2.21). The business had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. NIO’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.51) EPS. Sell-side analysts expect that Nio Inc – will post -1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

NIO has been the topic of several research reports. Bank of America lifted their price target on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $4.80 to $5.40 in a research report on Wednesday, May 15th. Wolfe Research began coverage on shares of NIO in a research report on Thursday. They set a “peer perform” rating for the company. Finally, Citigroup decreased their price objective on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.68.

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.