Harvest Fund Management Co. Ltd Sells 18,742 Shares of Nio Inc – (NYSE:NIO)

Harvest Fund Management Co. Ltd lessened its holdings in shares of Nio Inc – (NYSE:NIO) by 10.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 154,693 shares of the company’s stock after selling 18,742 shares during the period. Harvest Fund Management Co. Ltd’s holdings in NIO were worth $1,402,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Cigna Investments Inc. New grew its holdings in shares of NIO by 5.4% during the third quarter. Cigna Investments Inc. New now owns 27,498 shares of the company’s stock worth $249,000 after purchasing an additional 1,402 shares during the last quarter. Prudential PLC grew its holdings in shares of NIO by 0.9% during the third quarter. Prudential PLC now owns 177,715 shares of the company’s stock worth $1,607,000 after purchasing an additional 1,641 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in NIO by 9.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 20,075 shares of the company’s stock valued at $182,000 after acquiring an additional 1,816 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in NIO by 15.4% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,712 shares of the company’s stock valued at $133,000 after acquiring an additional 1,962 shares during the last quarter. Finally, Fountainhead AM LLC boosted its holdings in NIO by 20.0% in the fourth quarter. Fountainhead AM LLC now owns 12,047 shares of the company’s stock valued at $109,000 after acquiring an additional 2,012 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on NIO shares. Jefferies Financial Group decreased their price target on NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a report on Wednesday, March 6th. The Goldman Sachs Group initiated coverage on NIO in a research note on Wednesday, January 3rd. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. cut their target price on NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a research note on Wednesday, March 6th. UBS Group dropped their price target on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Finally, Sanford C. Bernstein dropped their target price on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.43.

NIO Stock Performance

Shares of NYSE NIO traded up $0.02 during midday trading on Tuesday, hitting $4.02. 41,658,003 shares of the company’s stock were exchanged, compared to its average volume of 56,065,395. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. Nio Inc – has a 12 month low of $3.61 and a 12 month high of $16.18. The company’s 50 day moving average price is $5.13 and its 200 day moving average price is $6.65. The firm has a market capitalization of $6.91 billion, a PE ratio of -2.29 and a beta of 1.93.

NIO (NYSE:NIO) last issued its earnings results on Tuesday, March 5th. The company reported ($2.81) EPS for the quarter, missing the consensus estimate of ($2.39) by ($0.42). The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. As a group, analysts predict that Nio Inc – will post -1.26 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.