Nio Inc – (NYSE:NIO) Shares Sold by First National Trust Co

First National Trust Co decreased its position in Nio Inc – (NYSE:NIO) by 29.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,228 shares of the company’s stock after selling 33,922 shares during the quarter. First National Trust Co’s holdings in NIO were worth $755,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Electron Capital Partners LLC acquired a new position in NIO during the 3rd quarter worth about $37,918,000. Top Ace Asset Management Ltd purchased a new stake in NIO during the 3rd quarter worth approximately $1,888,000. Banque Pictet & Cie SA acquired a new stake in NIO during the 3rd quarter worth approximately $2,486,000. TORQ CAPITAL MANAGEMENT HK Ltd boosted its position in NIO by 275.1% in the 3rd quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 284,700 shares of the company’s stock valued at $2,574,000 after buying an additional 208,800 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of NIO by 7.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 60,178 shares of the company’s stock worth $546,000 after acquiring an additional 4,045 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on NIO. Jefferies Financial Group lowered their target price on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research note on Wednesday, March 6th. Macquarie started coverage on NIO in a research report on Monday, April 15th. They set a “neutral” rating and a $5.00 target price on the stock. Bank of America lowered their price target on NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a report on Wednesday, March 6th. JPMorgan Chase & Co. cut their price objective on shares of NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a report on Wednesday, March 6th. Finally, Barclays reaffirmed an “underweight” rating and issued a $4.00 target price (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.43.

NIO Stock Down 0.4 %

NIO stock traded down $0.02 during mid-day trading on Friday, reaching $5.57. 54,697,737 shares of the company were exchanged, compared to its average volume of 55,921,856. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. The firm’s 50-day simple moving average is $4.92 and its two-hundred day simple moving average is $6.42. Nio Inc – has a twelve month low of $3.61 and a twelve month high of $16.18.

NIO (NYSE:NIO) last posted 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). The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $18.16 billion. NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.51) earnings per share. Research analysts forecast 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.