Seven Eight Capital LP Decreases Stake in Nio Inc – (NYSE:NIO)

Seven Eight Capital LP decreased its position in shares of Nio Inc – (NYSE:NIO) by 80.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,796 shares of the company’s stock after selling 243,402 shares during the quarter. Seven Eight Capital LP’s holdings in NIO were worth $249,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Avantax Advisory Services Inc. grew its position in shares of NIO by 11.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company’s stock valued at $181,000 after purchasing an additional 2,092 shares during the period. Norges Bank acquired a new position in shares of NIO in the fourth quarter worth $9,652,000. Trexquant Investment LP acquired a new position in NIO during the 4th quarter worth $676,000. Hsbc Holdings PLC increased its stake in shares of NIO by 238.6% during the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after buying an additional 4,976,403 shares during the period. Finally, Artisan Partners Limited Partnership increased its position in shares of NIO by 4.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 560,577 shares of the company’s stock valued at $5,084,000 after purchasing an additional 22,372 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on NIO. Citigroup dropped their price target 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. 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 research note on Friday, September 6th. Bank of America increased their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Finally, Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.93.

NIO Stock Performance

Shares of NIO stock opened at $5.33 on Tuesday. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of -3.15 and a beta of 1.82. 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 12-month low of $3.61 and a 12-month high of $9.57. The business has a 50 day simple moving average of $4.43 and a 200 day simple moving average of $4.68.

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). The firm had revenue of $17.45 billion for the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. NIO’s revenue for the quarter 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. On average, equities research analysts anticipate that Nio Inc – will post -1.41 EPS for the current 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.