Nio Inc – (NYSE:NIO) Holdings Lifted by Truist Financial Corp

Truist Financial Corp increased its holdings in Nio Inc – (NYSE:NIO) by 32.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,253 shares of the company’s stock after acquiring an additional 6,150 shares during the period. Truist Financial Corp’s holdings in NIO were worth $105,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Creative Planning boosted its stake in shares of NIO by 34.7% during the 2nd quarter. Creative Planning now owns 268,318 shares of the company’s stock valued at $1,116,000 after buying an additional 69,143 shares during the period. SIH Partners LLLP boosted its position in NIO by 104.0% during the second quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock valued at $2,760,000 after purchasing an additional 338,320 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in NIO by 10.7% in the second quarter. The Manufacturers Life Insurance Company now owns 181,043 shares of the company’s stock valued at $753,000 after purchasing an additional 17,467 shares in the last quarter. MBB Public Markets I LLC purchased a new position in NIO in the second quarter valued at about $420,000. Finally, Point72 Asset Management L.P. increased its position in NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after purchasing an additional 4,018,659 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Trading Up 1.4 %

Shares of NYSE:NIO opened at $5.22 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The stock’s 50-day moving average is $5.16 and its 200-day moving average is $4.81. The company has a market cap of $8.97 billion, a P/E ratio of -3.09 and a beta of 1.86. Nio Inc – has a 52-week low of $3.61 and a 52-week high of $9.57.

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

Wall Street Analyst Weigh In

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

About NIO

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.