Northwestern Mutual Wealth Management Co. Has $665,000 Stock Position in Nio Inc – (NYSE:NIO)

Northwestern Mutual Wealth Management Co. cut its position in shares of Nio Inc – (NYSE:NIO) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 159,908 shares of the company’s stock after selling 2,773 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in NIO were worth $665,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its holdings in NIO by 2.5% during the first quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock worth $371,000 after purchasing an additional 2,000 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in NIO by 13.9% in the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after acquiring an additional 2,038 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after acquiring an additional 2,651 shares during the last quarter. Cantor Fitzgerald L. P. boosted its stake in NIO by 23.0% in the fourth quarter. Cantor Fitzgerald L. P. now owns 14,548 shares of the company’s stock valued at $132,000 after acquiring an additional 2,719 shares during the last quarter. Finally, First Affirmative Financial Network lifted its stake in shares of NIO by 26.4% during the 1st quarter. First Affirmative Financial Network now owns 13,256 shares of the company’s stock valued at $60,000 after buying an additional 2,768 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on NIO shares. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and upped their price target for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Bank of America increased their target price on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Wolfe Research began coverage on shares of NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Citigroup lowered their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.93.

NIO Price Performance

Shares of NYSE:NIO opened at $6.79 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. Nio Inc – has a one year low of $3.61 and a one year high of $9.57. The company’s fifty day moving average price is $4.83 and its 200-day moving average price is $4.74. The firm has a market capitalization of $11.67 billion, a price-to-earnings ratio of -4.02 and a beta of 1.86.

NIO (NYSE:NIO) last released its earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting the consensus estimate of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The company had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. During the same quarter last year, the firm earned ($0.51) EPS. The firm’s quarterly revenue was up 98.9% compared to the same quarter last year. On average, equities research analysts anticipate that Nio Inc – will post -1.37 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.