Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of NIO Inc. (NYSE:NIO – Free Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 139,176 shares of the company’s stock, valued at approximately $710,000.
A number of other hedge funds have also modified their holdings of the business. Wealthspire Advisors LLC increased its stake in shares of NIO by 26.4% during the 4th quarter. Wealthspire Advisors LLC now owns 12,980 shares of the company’s stock worth $66,000 after purchasing an additional 2,707 shares in the last quarter. Advisors Asset Management Inc. grew its stake in NIO by 10.4% in the 4th quarter. Advisors Asset Management Inc. now owns 141,390 shares of the company’s stock worth $721,000 after acquiring an additional 13,283 shares during the period. Laurel Oak Wealth Management LLC purchased a new stake in NIO in the 4th quarter worth approximately $52,000. DRW Securities LLC purchased a new stake in NIO in the 4th quarter worth approximately $126,000. Finally, Brooklyn Investment Group grew its stake in NIO by 94.1% in the 4th quarter. Brooklyn Investment Group now owns 88,761 shares of the company’s stock worth $474,000 after acquiring an additional 43,036 shares during the period. 48.55% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have commented on NIO. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. HSBC raised shares of NIO from a “hold” rating to a “buy” rating and lifted their target price for the stock from $4.80 to $6.80 in a research note on Friday, March 13th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $6.00 target price on shares of NIO in a research note on Friday, May 22nd. Finally, Bank of America reaffirmed a “neutral” rating and issued a $6.80 target price on shares of NIO in a research note on Thursday, May 21st. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.70.
NIO Stock Down 0.5%
NIO stock opened at $5.21 on Friday. NIO Inc. has a one year low of $3.34 and a one year high of $8.02. The company has a 50 day moving average price of $6.00 and a two-hundred day moving average price of $5.40. The stock has a market capitalization of $12.92 billion, a P/E ratio of -9.46 and a beta of 0.92. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01.
NIO (NYSE:NIO – Get Free Report) last announced its quarterly earnings data on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. The company had revenue of $4.95 billion during the quarter. As a group, sell-side analysts expect that NIO Inc. will post -0.13 EPS for the current year.
NIO Profile
NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.
The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.
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