Sawtooth Solutions LLC grew its position in shares of Nio Inc – (NYSE:NIO) by 78.6% in the first quarter, Holdings Channel reports. The fund owned 29,871 shares of the company’s stock after acquiring an additional 13,145 shares during the period. Sawtooth Solutions LLC’s holdings in NIO were worth $150,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Enlightenment Research LLC bought a new stake in shares of NIO in the fourth quarter valued at $35,000. Barclays PLC bought a new stake in shares of NIO in the fourth quarter valued at $36,000. Psagot Investment House Ltd. bought a new stake in shares of NIO in the first quarter valued at $29,000. LPL Financial LLC bought a new stake in shares of NIO in the fourth quarter valued at $68,000. Finally, Moors & Cabot Inc. bought a new stake in shares of NIO in the first quarter valued at $64,000. 27.21% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. Zacks Investment Research lowered NIO from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. Bank of America lowered NIO from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $6.20 to $3.00 in a research note on Tuesday, May 28th. UBS Group lowered their target price on NIO from $7.00 to $5.50 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Finally, Citigroup upgraded NIO from a “neutral” rating to a “buy” rating and lowered their target price for the company from $7.20 to $6.80 in a research note on Thursday, April 4th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $7.27.
NYSE:NIO opened at $2.52 on Friday. The company has a debt-to-equity ratio of 3.73, a quick ratio of 1.34 and a current ratio of 1.49. Nio Inc – has a 52-week low of $2.50 and a 52-week high of $13.80. The firm has a market cap of $2.62 billion and a P/E ratio of -0.25.
NIO (NYSE:NIO) last released its quarterly earnings data on Tuesday, May 28th. The company reported ($2.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($1.92). The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.41 billion. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Research analysts forecast that Nio Inc – will post -1.4 earnings per share for the current year.
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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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