Profund Advisors LLC Boosts Holdings in Nio Inc – (NYSE:NIO)

Profund Advisors LLC increased its position in Nio Inc – (NYSE:NIO) by 5.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,614 shares of the company’s stock after purchasing an additional 9,710 shares during the period. Profund Advisors LLC’s holdings in NIO were worth $764,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC bought a new position in shares of NIO in the second quarter worth approximately $25,000. HighPoint Advisor Group LLC bought a new position in NIO in the 4th quarter valued at approximately $93,000. Sound Income Strategies LLC boosted its stake in NIO by 3,333.3% during the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after purchasing an additional 10,000 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in shares of NIO in the 1st quarter worth $51,000. Finally, Edge Wealth Management LLC purchased a new position in shares of NIO in the first quarter worth $54,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on NIO shares. Bank of America increased their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Citigroup reduced their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.93.

NIO Stock Up 11.5 %

NIO opened at $5.93 on Wednesday. Nio Inc – has a 1-year low of $3.61 and a 1-year high of $9.57. The firm’s 50 day simple moving average is $4.45 and its two-hundred day simple moving average is $4.68. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $10.19 billion, a PE ratio of -3.51 and a beta of 1.82.

NIO (NYSE:NIO) last released its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting the consensus estimate of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. NIO’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.51) earnings per share. As a group, equities analysts forecast that Nio Inc – will post -1.41 EPS for the current year.

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.