E Fund Management Co. Ltd. Boosts Stock Position in Nio Inc – (NYSE:NIO)

E Fund Management Co. Ltd. increased its holdings in shares of Nio Inc – (NYSE:NIO) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,279,198 shares of the company’s stock after purchasing an additional 54,682 shares during the quarter. NIO accounts for 0.7% of E Fund Management Co. Ltd.’s portfolio, making the stock its 19th biggest holding. E Fund Management Co. Ltd. owned about 0.07% of NIO worth $11,602,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of NIO. Bfsg LLC purchased a new stake in shares of NIO in the 4th quarter worth $33,000. Rakuten Securities Inc. bought a new stake in shares of NIO during the fourth quarter worth $38,000. Peoples Bank KS bought a new position in NIO in the 3rd quarter worth about $46,000. Fountainhead AM LLC bought a new stake in shares of NIO during the third quarter valued at approximately $91,000. Finally, First Affirmative Financial Network purchased a new stake in shares of NIO in the fourth quarter valued at approximately $95,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Price Performance

Shares of NIO traded up $0.11 during trading hours on Thursday, reaching $5.33. The company had a trading volume of 33,260,057 shares, compared to its average volume of 56,804,883. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of -3.04 and a beta of 1.92. Nio Inc – has a 12-month low of $3.61 and a 12-month high of $16.18. The firm has a 50 day simple moving average of $4.91 and a 200-day simple moving average of $6.37. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Sanford C. Bernstein lowered their target price on NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a report on Thursday, March 7th. JPMorgan Chase & Co. lowered their price target 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. Bank of America decreased their target price on shares of NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Barclays reiterated an “underweight” rating and issued a $4.00 price objective (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Finally, Mizuho reissued a “neutral” rating and set a $5.50 price objective on shares of NIO in a research report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.43.

NIO 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.