Cordasco Financial Network Raises Position in Nio Inc – (NYSE:NIO)

Cordasco Financial Network boosted its holdings in Nio Inc – (NYSE:NIOGet Rating) by 49.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,335 shares of the company’s stock after buying an additional 1,100 shares during the period. Cordasco Financial Network’s holdings in NIO were worth $72,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. grew its stake in NIO by 0.9% in the 1st quarter. BlackRock Inc. now owns 64,586,965 shares of the company’s stock valued at $1,359,552,000 after buying an additional 549,990 shares in the last quarter. Vanguard Group Inc. grew its stake in NIO by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 49,061,112 shares of the company’s stock valued at $1,032,737,000 after buying an additional 2,271,730 shares in the last quarter. State Street Corp grew its stake in NIO by 2.0% in the 4th quarter. State Street Corp now owns 32,887,731 shares of the company’s stock valued at $1,041,883,000 after buying an additional 658,909 shares in the last quarter. Norges Bank purchased a new position in NIO in the 4th quarter valued at approximately $435,592,000. Finally, Legal & General Group Plc grew its stake in NIO by 24.6% in the 4th quarter. Legal & General Group Plc now owns 10,543,630 shares of the company’s stock valued at $334,022,000 after buying an additional 2,083,903 shares in the last quarter. 31.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NIO. Morgan Stanley cut their price target on shares of NIO from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, June 10th. Citigroup lowered their price target on shares of NIO from $41.10 to $31.30 and set a “buy” rating for the company in a research note on Thursday, September 8th. Mizuho lowered their price target on shares of NIO from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, September 8th. Nomura lowered their price target on shares of NIO from $51.50 to $25.80 in a research note on Friday, July 1st. Finally, HSBC boosted their price target on shares of NIO from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, June 30th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.59.

NIO Trading Up 0.3 %

Shares of NYSE NIO traded up $0.05 during midday trading on Thursday, hitting $18.35. 36,722,527 shares of the company traded hands, compared to its average volume of 60,908,684. Nio Inc – has a 12-month low of $11.67 and a 12-month high of $44.27. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.78 and a current ratio of 1.87. The stock has a 50-day moving average price of $19.85 and a 200 day moving average price of $19.24. The firm has a market cap of $30.63 billion, a P/E ratio of -19.95 and a beta of 1.96.

NIO (NYSE:NIOGet Rating) last announced its quarterly earnings results on Wednesday, September 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.03. NIO had a negative net margin of 23.93% and a negative return on equity of 30.36%. The company had revenue of $10.29 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter in the previous year, the company earned ($0.07) earnings per share. NIO’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, analysts expect that Nio Inc – will post -0.49 earnings per share for the current year.

NIO Company Profile

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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.

See Also

Institutional Ownership by Quarter for NIO (NYSE:NIO)

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