Intech Investment Management LLC Has $338,000 Holdings in Nio Inc – (NYSE:NIO)

Intech Investment Management LLC lessened its position in Nio Inc – (NYSE:NIO) by 7.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 50,572 shares of the company’s stock after selling 3,875 shares during the period. Intech Investment Management LLC’s holdings in NIO were worth $338,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in NIO. Allspring Global Investments Holdings LLC purchased a new position in shares of NIO during the third quarter valued at approximately $32,000. Ridgewood Investments LLC purchased a new position in shares of NIO during the second quarter valued at approximately $25,000. First Trust Direct Indexing L.P. purchased a new position in shares of NIO during the third quarter valued at approximately $76,000. Apollon Wealth Management LLC purchased a new position in shares of NIO during the third quarter valued at approximately $78,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in shares of NIO during the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NIO. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and cut their target price for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Wolfe Research initiated coverage on NIO in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Daiwa America upgraded NIO to a “strong-buy” rating in a report on Monday, September 30th. Citigroup dropped their price target on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, NIO currently has an average rating of “Hold” and a consensus price target of $5.71.

NIO Stock Performance

Shares of NIO opened at $4.64 on Wednesday. The firm has a market cap of $7.98 billion, a PE ratio of -3.07 and a beta of 1.77. The stock’s fifty day moving average price is $5.36 and its two-hundred day moving average price is $4.85. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. Nio Inc – has a 1 year low of $3.61 and a 1 year high of $9.57.

NIO (NYSE:NIO) last issued its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business’s revenue was up 98.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.51) earnings per share. On average, equities research analysts forecast that Nio Inc – will post -1.39 EPS for the current year.

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.