Sei Investments Co. Acquires 7,600 Shares of Nio Inc – (NYSE:NIO)

Sei Investments Co. raised its stake in shares of Nio Inc – (NYSE:NIO) by 4.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 195,894 shares of the company’s stock after purchasing an additional 7,600 shares during the period. Sei Investments Co.’s holdings in NIO were worth $815,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NIO. Ridgewood Investments LLC bought a new stake in NIO during the second quarter worth $25,000. Sound Income Strategies LLC boosted its holdings in NIO by 3,333.3% during the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock worth $46,000 after acquiring 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. Baader Bank Aktiengesellschaft purchased a new stake in shares of NIO in the second quarter valued at about $53,000. Finally, Edge Wealth Management LLC bought a new position in shares of NIO during the first quarter valued at about $54,000. 48.55% of the stock is owned by institutional investors.

NIO Stock Down 8.0 %

NIO stock opened at $6.25 on Wednesday. Nio Inc – has a fifty-two week low of $3.61 and a fifty-two week high of $9.57. The stock has a fifty day moving average of $4.87 and a 200-day moving average of $4.75. The company has a market capitalization of $10.74 billion, a price-to-earnings ratio of -3.70 and a beta of 1.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11.

NIO (NYSE:NIO) last posted its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The company’s revenue was up 98.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.51) earnings per share. As a group, equities research analysts predict that Nio Inc – will post -1.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.